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Pancakeswap Burns 7,059,088 CAKE Tokens This Week

Twitter icon  •  Published vor 1 Monat  •  Hassan Maishera

The Pancakeswap team told its community via Twitter on Tuesday that it has burned 7,059,088 CAKE tokens (worth $29 million) this week.

The Pancakeswap team told its community via Twitter on Tuesday that it has burned 7,059,088 CAKE tokens (worth $29 million) this week. The decentralized exchange generated $673,000 (164k CAKE tokens) in trading fees for its Swap and Perpetual market, up by 24% from the previous week. The Predictions and Lottery markets generated 66k CAKE ($272k) and 35k CAKE ($145k), respectively. The NFT marketplace generated 462 CAKE ($2k), up by 143% from last week.

PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down by 2% today and is currently trading at $4.003.

Author

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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