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Pancakeswap Burns Extra 8,908,216 CAKE Tokens this Week

Twitter icon  •  Published il y a 2 mois  •  Hassan Maishera

The Pancakeswap team told its community via X on Tuesday that it has burned 8,908,216 CAKE tokens (worth $28 million) this week.

The Pancakeswap team told its community via X on Tuesday that it has burned 8,908,216 CAKE tokens (worth $28 million) this week. The decentralized exchange generated 118k CAKE ($370k) in trading fees for its V2 Swap and Perpetual market, up by 103% from the previous week. Pancakeswap also generated 97k CAKE ($305k) for V3, up by 51%. The Predictions and Lottery markets generated 42k CAKE ($132k) and 29k CAKE ($91k), respectively. The NFT marketplace generated 300 CAKE ($1k), up by 16% 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 by 1% today and is currently trading at $3.211.

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.