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Pancakeswap Burns 8,888,476 CAKE Tokens this Week

Twitter icon  •  Published hace 1 año on July 30, 2024  •  Hassan Maishera

The Pancakeswap team told its community via X on Monday that it has burned 8,888,476 CAKE tokens (worth $18 million) this week.

Pancakeswap Burns 8,888,476 CAKE Tokens this Week

The Pancakeswap team told its community via X on Monday that it has burned 8,888,476 CAKE tokens (worth $18 million) this week. The decentralized exchange generated 140k CAKE ($281k) in trading fees for its V2 Swap and Perpetual market, up 66% from the previous week. Pancakeswap also generated 105k CAKE ($209k), up 11%. The Predictions and Lottery markets generated 57k CAKE ($114k) and 24k CAKE ($48k), respectively. The NFT marketplace generated 300 CAKE ($1k), down 19% 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 2.5% today and is currently trading at $1.961.

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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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