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Pancakeswap Burns 9,046,926 CAKE Tokens this Week

Twitter icon  •  Published 12 hours ago on February 11, 2025  •  Hassan Maishera

On Monday, the Pancakeswap team told its community via X that it had burned 9,046,926 CAKE tokens (worth $15 million) this week.

Pancakeswap Burns 9,046,926 CAKE Tokens this Week

On Monday, the Pancakeswap team told its community via X that it had burned 9,046,926 CAKE tokens (worth $15 million) this week. The decentralized exchange generated 139k CAKE ($231k) in trading fees for its V2 Swap and Perpetual market, down 25% from the previous week. Pancakeswap V3 also generated 211k CAKE ($351k), down 17%. The trading fees generated from non-AMMs like Perpetual, Position manager, etc, was 182 CAKE ($300).

The Predictions and Lottery markets generated 89k CAKE ($148k) and 31k CAKE ($52k), respectively. The NFT marketplace generated 200 CAKE ($300), down 49% 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 7% today and is currently trading at $1.888.

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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.

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