PancakeSwap (CAKE) announced a burn of 8,703,247 CAKE on Monday, pulling $35 million worth of DeFi tokens from circulation.
PancakeSwap DEX burned over 8.7 million
on Monday, pulling $35 million worth of DeFi tokens from circulation. The DEX’s move catalyzed gains in the asset. A key announcement by PancakeSwap regarding a collaboration with Stryke is likely another catalyst driving gains in the DEX’s native token price added nearly 3% to its value on Monday. There are two key events that likely catalyzed the rally in the DeFi token. The first is the $35 million
-35% Trading fees : 99k
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