🚨Is CAKE starting its "self-destruction" again? The supply is getting lower!
Reports show that PancakeSwap has burned around 747,000 CAKE this week, worth nearly $980,000.
Notably, only 658,000 CAKE were minted this week, indicating that CAKE is entering a deflationary phase again, with the burn rate surpassing the issuance rate.
Meanwhile, the burn related to Infinity AMM hit 48,300 CAKE, skyrocketing 119% week-over-week, suggesting a clear uptick in on-chain activity.
What's interesting in the market is that while many are fixated on price fluctuations, some projects are quietly reducing circulating supply.
With fewer tokens in circulation, the ecosystem is becoming more vibrant.
As for whether this signals the beginning of a new valuation reassessment, it seems that smart money is already taking notice.👀#Cake
Reports show that PancakeSwap has burned around 747,000 CAKE this week, worth nearly $980,000.
Notably, only 658,000 CAKE were minted this week, indicating that CAKE is entering a deflationary phase again, with the burn rate surpassing the issuance rate.
Meanwhile, the burn related to Infinity AMM hit 48,300 CAKE, skyrocketing 119% week-over-week, suggesting a clear uptick in on-chain activity.
What's interesting in the market is that while many are fixated on price fluctuations, some projects are quietly reducing circulating supply.
With fewer tokens in circulation, the ecosystem is becoming more vibrant.
As for whether this signals the beginning of a new valuation reassessment, it seems that smart money is already taking notice.👀#Cake