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Pancakeswap gains overwhelming community support for 300 million CAKE token supply reduction, bolstering market presence across chains.

The Pancakeswap community has sanctioned a governance vote to eliminate 300 million CAKE tokens from the crypto asset's total supply. Records indicate that a substantial 97.88% of community votes supported the reduction of 300 million CAKE, decreasing the total supply from 750 million to 450 million CAKE tokens. Near-Unanimous Vote Cuts CAKE Supply On Dec.

A staggering 98% member of the PancakeSwap community voted in favour of reducing the CAKE supply by 300 million resulting into a strong surge in the CAKE price.

PancakeSwap's proposal to reduce the maximum supply of its native CAKE token from 750 million to 450 million was approved.

PancakeSwap has a new proposal to reduce the total supply of its CAKE token.

PancakeSwap is set to revolutionize the blockchain gaming landscape with its PancakeSwap Gaming Marketplace in a strategic move aimed at harnessing the immense potential of GameF. Multi-Chain ready for a diverse gaming experience PancakeSwap, boasting a staggering 1.5 million active users and over $11 billion in traded volumes, is more than just a decentralized exchange.

Solana's high number of swaps reflected increased demand for its DeFi protocols.

Story Highlights The live price of the CAKE token is . PancakeSwap price can go as high as $5.38 by the end of 2024. CAKE with a potential surge could go as high as $13.89 by the end of 2030. The ever-evolving crypto space is home to a host of promising and competent projects.

The cryptocurrency market has continued to hit new levels since the beginning of 2023 and most recently in the fourth quarter. This bullish outlook can be attributed to the mounting optimism around the beckoning approval of spot Bitcoin exchange-traded funds (ETFs).

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.