PancakeSwap Burns Nearly 9 Million CAKE Tokens Worth $16 Million

According to PANews, PancakeSwap has announced the destruction of 8,889,897 CAKE tokens, valued at approximately $16 million. The breakdown of the fees is as follows: AMM V2 trading fees accounted for 173,000 CAKE (around $314,000, a 3% decrease), AMM V3 trading fees were 82,000 CAKE (about $149,000, a 42% decrease), and non-AMM trading fees (such as perpetual contracts and position management) amounted to 8,328 CAKE (approximately $15,100). Additionally, the prediction market saw 57,000 CAKE (around $103,000, a 2% decrease), the lottery accounted for 27,000 CAKE (about $50,000, a 6% decrease), and the NFT market had 900 CAKE (approximately $1,700, a 715% increase).