CAKE price bottoms out as PancakeSwap announces $25 million burn PancakeSwap’s price increased nearly 3% on Monday after the decentralized exchange platform on the Binance Smart Chain announced a token burn of more than 8.9 million CAKE tokens, collected from trading fees across Automated Market Makers Version 2 and 3 of the platform.
Investors waiting with bated breath for a volatile move remain confused about whether to buy the dips or keep some cash reserves for a rainy day. Crypto market tries to break local downtrend Crypto market capitalisation has been up 2% over the past seven days and has added over 13% from the lows of the 1st of May. A timid bottom formation on Wednesday was followed by a modest rebound on Thursday and more robust buying on Friday after the monthly US jobs report.
Source: News Formal (newsformal.com)
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