CandleFocus PancakeSwap burns CAKE worth $19m
2025-01-13
Author: Content Editor
PancakeSwap, a multi-chain decentralized exchange, has burned 9 million of its native token CAKE in an effort to manage its supply. This brings the total number of CAKE tokens permanently removed from circulation to 36.1 million, with a value of over $113.3 million. Despite this token burn, the platform has shown significant growth, with a total value locked of over $2.1 billion and a trading volume of $53.46 billion in December. However, the price of CAKE has declined by 32% in the past month, currently sitting at $2.24.
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