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Pancakeswap Burns Another $66 Million Worth Of CAKE Tokens

Twitter icon  •  Published 3 years ago on April 5, 2022  •  Hassan Maishera

The Pancakeswap team announced via Twitter on Monday that it had burned 6.7 million tokens.

Pancakeswap Burns Another $66 Million Worth Of CAKE Tokens

The Pancakeswap team announced via Twitter on  Monday that it had burned 6.7 million tokens (approximately $66 million). The team also earned $3.7 million from trading fees over the past week. 

PancakeSwap is a BNB 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 $9.95

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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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