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Pancakeswap Burns 9,312,014 CAKE Tokens this Week

Twitter icon  •  Published 1 year ago on March 18, 2025  •  Hassan Maishera

On Monday, the Pancakeswap team told its community via X that it had burned 9,312,014 CAKE tokens (worth $23 million) this week.

Pancakeswap Burns 9,312,014 CAKE Tokens this Week

On Monday, the Pancakeswap team told its community via X that it had burned 9,312,014 CAKE tokens (worth $23 million) this week. The decentralized exchange generated 117k CAKE ($293k) in trading fees for its V2 Swap and Perpetual market, down 65% from the previous week. Pancakeswap V3 also generated 752k CAKE ($1.89M), up 31%. Other Sources (Prediction, Perpetual, etc.) was 34k CAKE ($86k), down 70%. 

PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 20% today and is currently trading at $2.466.

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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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