PancakeSwap burns 6.8 million CAKE but is it enough to keep the bulls indulged

A bit of CAKE was recently taken off the menu but was it enough to cause a scramble for the remaining amount? PancakeSwap announced that it recently burned slightly over 6.8 million CAKE, slightly lowering the circulating supply.

Timeline of Pancakeswap

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Find out what's been cooking in PancakeSwap's kitchen as we take a deep dive into its revenue. The post PancakeSwap Revenue: Tasty Ways to Benefit appeared first on Bitcoin Market Journal.

PancakeSwap, the most popular Decentralized Exchange (DEX) for the Binance Smart Chain, recently grabbed the attention of many due to several developments happening in its community. The DEX has often been accused of snatching the market share of its competitors, including Uniswap and SushiSwap.

PancakeSwap (CAKE), just like any other cryptocurrency, has had its share of ups and downs. PancakeSwap registers over 53% increase in 24-hour trading volume PancakeSwap among trending BNB projects today CAKE's next resistance level could be at $5 Just two months after it was launched on September 2020, the token hit its all-time low to date.

There's one new crypto project that has been gaining a lot of attention recently, and that's GLO. Uniglo has a huge number of strong fundamentals which makes it the perfect option for both new investors and those who simply need better options for their portfolio.

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Chiliz (CHZ) and PancakeSwap (CAKE) are gathering momentum for a breakout, analysts noted. CHZ has been trading in the positive zone in the past few days and made it to the market's top gainers.

The ongoing recovery in PancakeSwap price follows an ascending triangle pattern. In theory, this bullish pattern indicates a gradual growth in bullish momentum, which receives a sudden boost once the neckline resistance is breached.

Between the innovative realm of cryptocurrencies and the well-known conventional financial system, decentralized finance (Defi) bridges the gap. Users can obtain some financial services through the Defi project, including loans, lending, and insurance, typical of conventional financial institutions.

The Pancakeswap token (CAKE) has been one of those cryptocurrencies that have been steadily growing in the background. The popularity of the decentralized exchange (DEX) contributed tremendously to its rise until it took a hit in the bear market like other digital assets.