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Pancakeswap Burns Additional 8,927,968 CAKE Tokens this Week

Twitter icon  •  Published 1주 전  •  Hassan Maishera

The Pancakeswap team told its community via X on Monday that it has burned 8,927,968 CAKE tokens (worth $27 million) this week.

The Pancakeswap team told its community via X on Monday that it has burned 8,927,968 CAKE tokens (worth $27 million) this week. The decentralized exchange generated 134k CAKE ($403k) in trading fees for its V2 Swap and Perpetual market, down by 29% from the previous week. Pancakeswap also generated 143k CAKE ($432k) for V3, up by 58%. The Predictions and Lottery markets generated 53k CAKE ($159k) and 23k CAKE ($70k), respectively. The NFT marketplace generated 400 CAKE ($1k), down by 30% 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 $3.007.

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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.