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CoinOtag 2024-07-15 11:34:08

PancakeSwap Burns 8.8 Million CAKE Tokens Worth $17 Million to Boost Token Scarcity

PancakeSwap has executed a significant token burn, removing 8,820,499 CAKE tokens from circulation, a move valued at around 17 million dollars. Despite this development, PancakeSwap’s platform displays mixed performance across various channels, highlighting the complexities of the DeFi landscape. “Token burning is pivotal in creating scarcity, which could potentially benefit long-term token value if demand

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