Pancakeswap Burns Over 6 Million CAKE Tokens

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

The Pancakeswap has announced earlier today on Twitter that it has burned 6,734,837 CAKE tokens.

The Pancakeswap has announced earlier today on Twitter that it has burned 6,734,837 CAKE tokens (around $53 million). The team also bought back 335k CAKE tokens ($2.6 million) from the market. 

PancakeSwap is a Binance Smart Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by less than 1% so far today and is currently trading at $7.90.

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.