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Pancakeswap Burns 8,835,311 CAKE Tokens this Week

Twitter icon  •  Published 7 महीने पहले on June 4, 2024  •  Hassan Maishera

The Pancakeswap team told its community via X on Monday that it has burned 8,835,311 CAKE tokens (worth $24 million) this week.

Pancakeswap Burns 8,835,311 CAKE Tokens this Week

The Pancakeswap team told its community via X on Monday that it has burned 8,835,311 CAKE tokens (worth $24 million) this week. The decentralized exchange generated 94k CAKE ($253k) in trading fees for its V2 Swap and Perpetual market, up by 53% from the previous week. Pancakeswap also generated 109k CAKE ($293k) for V3, up by 37%. The Predictions and Lottery markets generated 52k CAKE ($139k) and 27k CAKE ($72k), respectively. The NFT marketplace generated 1000 CAKE ($4k), up by 4% 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 2% today and is currently trading at $2.680.

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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.