DeFi platform PancakeSwap burns over 8.8 M CAKE coins in a strategic move

PancakeSwap, a leading decentralized finance (DeFi) network, made a bullish move to boost the project’s growth. The platform has confirmed a massive token burn, destroying 8,820,499 CAKE coins (worth about $17 million) to reduce the asset’s supply. PancakeSwap’s recent developments Token burns reduce the asset’s overall supply, triggering scarcity and bolstering the price amid stable

Source: Invezz