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Pancakeswap Burns Additional 8,904,817 CAKE Tokens this Week

Twitter icon  •  Published 2週間前  •  Hassan Maishera

The Pancakeswap team told its community via X on Monday that it has burned 8,904,817 CAKE tokens (worth $24 million) this week.

The Pancakeswap team told its community via X on Monday that it has burned 8,904,817 CAKE tokens (worth $24 million) this week. The decentralized exchange generated 171k CAKE ($457k in trading fees for its V2 Swap and Perpetual market, up by 28% from the previous week. Pancakeswap also generated 90k CAKE ($241k) for V3, down by 37%. The Predictions and Lottery markets generated 44k CAKE ($119k) and 34k CAKE ($91k), respectively. The NFT marketplace generated 400 CAKE ($1k), up by 10% 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 less than 1% today and is currently trading at $2.700.

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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.