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Pancakeswap Burns Over 6 Million CAKE Tokens

Twitter icon  •  Published 3 years ago on February 14, 2022  •  Hassan Maishera

The Pancakeswap has announced earlier today on Twitter that it has burned 6,734,837 CAKE tokens.

Pancakeswap Burns Over 6 Million CAKE Tokens

The Pancakeswap has announced earlier today on Twitter that it has burned 6,734,837 CAKE tokens (around $53 million). The team also bought back 335k CAKE tokens ($2.6 million) from the market. 

PancakeSwap is a Binance Smart Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by less than 1% so far today and is currently trading at $7.90.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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