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Amidst PancakeSwap's proposal to burn 300 million CAKE and reduce the total supply from 750 million to 450 million CAKE, on-chain data indicates that a whale has been moving a significant amount of CAKE, the decentralized exchange's governance token. Whale Is Moving Tokens As Key PancakeSwap Voting Event Proceeds According to a report from Scopescan, a blockchain analytics platform, a whale has moved approximately 1.7 million CAKE worth $1.3 million in the past week from Binance, Gate.io, and Bitget to a series of crypto addresses.

PancakeSwap saw a significant rise in the value of its native CAKE token today.

Decentralized exchange PancakeSwap (CRYPTO: CAKE) on Thursday announced a proposal to drastically reduce the supply of its native token. What Happened: The proposed reduction, amounting to 300 million tokens, will see the maximum token supply slashed from 750 million to 450 million.

As the crypto market navigates through the final weeks of the year, the landscape has been marked by a persistent correction phase affecting leading coins like Bitcoin and Ethereum. However, a glimmer of optimism emerged recently as the market witnessed a notable upturn, providing relief to major cryptocurrencies and offering a surge to tokens like PancakeSwap (CAKE), Astar (ASTR), and Mina (MINA).

The native token of PancakeSwap might undergo a massive change if this vote goes through. A proposal to reduce the total supply limit of CAKE from 750 million to 450 million tokens by the PancakeSwap community is live right now.

The Decentralized Exchange (DEX) PancakeSwap wants to achieve the mission of ultrasound CAKE. Hence, it has proposed to reduce the maximum supply of CAKE from 750 million to 450 million.

PancakeSwap is seeking to reduce the total supply of CAKE tokens to 450 million by January 2024.

PancakeSwap's native CAKE token price surged nearly 10% today, according to CryptoSlate's data, following the decentralized exchange (DEX) proposal to reduce its maximum supply by 300 million to 450 million tokens. There are currently roughly 386 million CAKE tokens issued, with 267 million in the circulating supply.

The PanCakeSwap community has provided an overwhelming response to the network's token supply cut proposal. On Thursday, December 28, 2023, the PanCakeSwap team initiated the voting process for the proposal of token supply cut to 450 million from 750 million.

As of the latest data, PancakeSwap's CAKE is trading at $3.78, showing a 6.8% increase for the day and a significant 46% surge over the past week. The proposal to decrease CAKE's maximum supply by 300 million has garnered widespread community support, with over 90% of votes favoring the reduction.

PancakeSwap put forward a proposal to reduce the maximum supply of its native CAKE token from 750 million to 450 million.

Analysis of the latest update on supply and market trends

PancakeSwap, one of the most popular decentralized exchanges (DEX), recently proposed a significant revision in the supply of its native token, CAKE. In an effort to align the token with its current circulating supply of 388 million, developers aim to reduce the maximum supply from 750 million to 450 million CAKE.

PancakeSwap's CAKE token jumped by 4% following the proposal, which would see its maximum supply reduced from 750 million to 450 million.

The developers of the decentralized exchange (DEX) PancakeSwap have opened a vote to reduce the tokens of their CAKE ecosystem. On Dec. 28, PancakeSwap developers presented a vote called the proposal to reduce the total CAKE token supply.

More than 99.95% of the community, representing 70,000 votes from CAKE holders, favored the proposal shortly after it went live.

If approved, the 300 million token reduction, worth $1.074 billion, will take effect on Jan. 4, 2024.

PancakeSwap's CAKE token experienced a 50% surge in a week, thanks to strategic token burn and a new supply cap proposal, marking a significant DeFi milestone.

Crypto Price Prediction: The crypto market is bearish for the last week of the year prolonging a correction phase in leading coins like Bitcoin and Ethereum. However, On Wednesday, the crypto market witnessed a notable uptick, offering a relief rally to the majority of major cryptocurrencies.

The introduction of three new ordinal's token pairs marks a significant expansion of trading opportunities on the Binance Smart Chain (BNB). Let's explore how this latest addition opens up avenues for users looking to engage in seamless transactions within the Ordinals ecosystem.

The recent increase in value of PancakeSwap has captured the attention of the cryptocurrency community, as its token, CAKE, witnessed an extraordinary 54% surge in just the past seven days. With a robust market capitalization of nearly $900 million and an impressive fully diluted valuation of $1.3 billion, PancakeSwap has solidified its position as a significant player in the decentralized finance (DeFi) space.

With the bullish trend continuation gaining momentum, the CAKE price crosses the $3.5 mark. This marks a bullish milestone for the PancakeSwap native token. However, the uptrend struggles to sustain momentum, leading to a quick fallback. The strong trend comes after a reversal from the fake breakdown of a symmetrical triangle pattern.

PancakeSwap, Sei, and Binance Coin have seen significant value surges in cryptocurrency, propelled by strategic decisions and innovative developments.

PancakeSwap Price Prediction: Defying the current market consolidation, the Panckswap token price managed to sustain above the $2.1 level and prolong its recovery trend. Within a week, the coin price surged 57% to reach the current trading price of $3.37 and provided a decisive breakout from a falling wedge pattern.