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Pancakeswap Burns 9,065,577 CAKE Tokens this Week

Share on X icon · Published 1 год назад on December 24, 2024 · Hassan Maishera

On Monday, the Pancakeswap team told its community via X that it had burned 9,065,577 CAKE tokens (worth $22 million) this week.

Pancakeswap Burns 9,065,577 CAKE Tokens this Week

On Monday, the Pancakeswap team told its community via X that it had burned 9,065,577 CAKE tokens (worth $22 million) this week. The decentralized exchange generated 137k CAKE ($328k) in trading fees for its V2 Swap and Perpetual market, up 8% from the previous week. Pancakeswap V3 also generated 121k CAKE ($292k), down 33%.

The Predictions and Lottery markets generated 65k CAKE ($157k)and 27k CAKE ($64k), respectively. The NFT marketplace generated 200 CAKE ($400), down 13% 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 up 5.5% today and is currently trading at $2.512.

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Hassan Maishera
Hassan Maishera Senior Reporter

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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