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Pancakeswap Burns 9,235,605 CAKE Tokens This Week

Twitter icon  •  Published il y a 5 mois  •  Hassan Maishera

The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 9,235,6055 CAKE tokens (worth $21 million) this week.

The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 9,235,6055 CAKE tokens (worth $21 million) this week. The decentralized exchange generated 131k CAKE ($300k) in trading fees for its V2 Swap and Perpetual market, up by 2% from the previous week. Pancakeswap also generated 97k CAKE ($222k)) for V3, down by 4%. The Predictions and Lottery markets generated 42k CAKE ($96k) and 33k CAKE ($76k), respectively. The NFT marketplace generated 5k CAKE ($1k)), down by 41% 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 6% today and is currently trading at $2.163.

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.