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Pancakeswap Burns 8,947,590 CAKE Tokens this Week

Twitter icon  •  Published vor 18 Stunden on January 14, 2025  •  Hassan Maishera

On Monday, the Pancakeswap team told its community via X that it had burned 8,947,590 CAKE tokens (worth $19 million) this week.

Pancakeswap Burns 8,947,590 CAKE Tokens this Week

On Monday, the Pancakeswap team told its community via X that it had burned 8,947,590 CAKE tokens (worth $19 million) this week. The decentralized exchange generated 167k CAKE ($365k) in trading fees for its V2 Swap and Perpetual market, up 16% from the previous week. Pancakeswap V3 also generated 140k CAKE ($306k), up 21%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 6,711 CAKE ($14.6k).

The Predictions and Lottery markets generated 66k CAKE ($144k) and 28k CAKE ($61k), respectively. The NFT marketplace generated 200 CAKE ($500), up 60% 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 2% today and is currently trading at $2.276.

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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.