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Pancakeswap Burns 8,506,585 CAKE Tokens This Week

Twitter icon  •  Published il y a 3 mois  •  Hassan Maishera

The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 8,506,585 CAKE tokens (worth $25 million) this week.

The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 8,506,585 CAKE tokens (worth $25 million) this week. The decentralized exchange generated 107k CAKE ($319k) in trading fees for its V2 Swap and Perpetual market, down by 14% from the previous week. Pancakeswap also generated 103k CAKE ($308k) for V3, up by 10%. The Predictions and Lottery markets generated 38k CAKE ($114k) and 25k CAKE ($75k), respectively. The NFT marketplace generated 1.1k CAKE ($3k), down by 51% 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 1% today and is currently trading at $2.945.

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.