PancakeSwap Continues to Dial-In Deflationary Mechanisms, Burning 80M USD in CAKE
PancakeSwap announced that they have burned over $80 million USD worth of CAKE in last week’s token burn. The news was announced through a PancakeSwap Twitter post on July 12th and has the PancakeSwap community ecstatic. The transaction hash shows PancakeSwap has burned 5,368,165 CAKE.
Baby Doge Plunges 40% As Hype Dies Down
Baby Doge, a precocious meme coin spawn off from Dogecoin, has seen a 40% price loss in just a week. The coin which came into prominence after the Elon Musk tweet has now seen massive price dips as the hype dies down. The price of the coin has continuously since it peaked back at the beginning of July.
Uniswap takes the next step toward adopting Layer 2 tech with the alpha launch on Optimism
Uniswap said Tuesday that it is moving one step closer to bringing the popular decentralized exchange onto the layer-two protocol known as Optimistic Ethereum. Plans for integrating with the technology, which is being developed by the a16z-backed startup Optimism, were made public when Uniswap’s third iteration, or v3, went live in March.
Dogecoin, Shiba Inu coin lead losses as crypto volume dumped 43% in June
Data on crypto exchange trading volumes show a fall of more than 40% in June. Some attribute this to the regulatory crackdown by Chinese authorities. Meme tokens Dogecoin and Shiba Inu coin felt the brunt of the sell-off. Crypto derivatives also took a tumble, with volume dropping 40.7% to $3.2 trillion over the same period.
Nonfungible tokens soar even as Bitcoin price drops close to $32,000
Data from Cointelegraph Markets Pro shows NFT-related platforms like AUDIO, AXS and SLP as the top 24-hour gainers of the day. Today the wider cryptocurrency market finds itself looking for something to spark some momentum as Bitcoin’s (BTC) price dropped to $32,300 and altcoins sustained 2% to 5% losses.
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