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Crypto platform PancakeSwap unveiled a massive token burn on Tuesday, with the team destroying more than 10 million coins. The event, targeted at reducing the asset's circulating supply, triggered a significant price uptick for CAKE. PancakeSwap's massive token burn The network revealed that the team removed around 10.
Decentralized exchange platform PancakeSwap has taken a significant step towards expanding its capabilities with the introduction of veCAKE Gauges during the zkSync era. This strategic move seeks to give veCAKE holders greater power to influence the issuances of the CAKE token within the different liquidity pools, marking a milestone in its governance ecosystem.
PanCakeSwap (CAKE), a popular player in the crypto arena, witnessed a massive burn on Tuesday. In a bid to curb the circulating supply of the CAKE crypto, over 10 million tokens were burned by the PanCakeSwap team.
While the proposal would still undergo discussion, comments from the forum showed that it could get the green light.
The total value locked (TVL) in DeFi has surpassed countries' GDPs with more than $52 billion invested.
The Binance Smart Chain DEX seeks community feedback on a significant cut to the protocol's maximum token supply.
The introduction of PancakeSwap's new proposal triggered a 21% spike in CAKE within a few hours on Thursday.
PancakeSwap's CAKE spiked 20.4% following a proposal to reduce the maximum token supply from 750 million to 450 million.
Bitcoin (CRYPTO: BTC) traded higher, with the cryptocurrency prices surging past the key $44,000 level on Thursday. Ethereum (CRYPTO: ETH) also moved higher, trading above the key $2,200 mark this morning.
This is the maximum theoretical supply, which would be reduced from 700 to 450 million.
Over the past year, PanCakeSwap (CAKE), a cryptocurrency built on the Binance Smart Chain, has experienced a significant decline in value, losing more than 23%. This downward trend has raised concerns among investors and within the PanCakeSwap ecosystem.
In a strategic move to enhance the deflationary nature of its native token, PancakeSwap, the decentralized cryptocurrency exchange (DEX), has proposed a significant reduction in the total supply of CAKE tokens.
PanCakeSwap (CAKE), the crypto built on the Binance Smart Chain, has lost over 23% in value in the past year. The price decline has been a concern for its investors and the PanCakeSwap ecosystem.
The decentralized cryptocurrency exchange (DEX) PancakeSwap team has announced plans to reduce the overall supply of CAKE tokens. The DEX team proposes to reduce the total supply of native tokens from 750 million to 450 million.
In the last year, PancakeSwap underwent a significant transformation in its tokenomics, emissions, and growth strategies. From improving CAKE Tokenomics v2.5 to the recent launch of the veCAKE Gauges system, the platform is in a strong position to continue expanding across all deployments.
Popular decentralized exchange PancakeSwap has recently announced the burn of over 9 million of its native $CAKE tokens in a move that destroyed over $19 million worth of tokens, in a move that helps to reduce their circulating supply.
Decentralized exchange PancakeSwap (CRYPTO: CAKE) in collaboration with BNB Chain (CRYPTO: BNB), announced the recipients Wednesday of its Meta-Governance Grants. What Happened: The grants have been awarded to four protocols: Cakepie, StakeDAO, Breakfast Finance (from Vector Finance), and Redacted Finance.
With 2023 already at its sunset and 2024 rapidly approaching, it is time to look back at how the cryptocurrency market as a whole performed, focusing on its biggest winners or those assets that recorded the best results, and its biggest losers or its worst performers, in the year that is almost over.
Lunanauts, a validator for LUNC, shared plans for a new collaboration to boost support for the LUNC cryptocurrency. This announcement gained attention in the crypto market, especially as it coincided with a decline in the token's price.
Lunanauts, a LUNC validator, recently revealed the community's plans to forge ahead with a collaboration aiming to build up further support for the LUNC cryptocurrency. The announcement, coming to light on Monday, amassed significant attention within the broader crypto market as it came amid a price fall noted by the token.
With a sideways trend growing in the over the past few days, the CAKE price trend shows a lack of bullish momentum to continue the prevailing trend. However, the losing the moment to catchup on the market-wide recovery trend, PancakeSwap delasy the bullish break.
In its latest burn report, PancakeSwap revealed it had burned 0.089% of the CAKE total supply, achieving a negative net in November 2023.
Bouncing back with the marketwide recovery as Bitcoin crosses the $43K mark, the altcoins are gaining momentum. Banking on the newfound momentum, the CAKE price trend returns to form the trend continuation pattern. With a sharp overnight jump, Pancakeswap is approaching the overhead resistance of $2.74, teasing a breakout rally.
The impending approval of Bitcoin and Ethereum spot ETFs marks a pivotal moment for the cryptocurrency market as we head into 2024. This milestone, alongside the market's recovery, is creating a suitable ground for investment opportunities as this digital currency would likely witness massive adoption from the traditional market participants too.
