PancakeSwap was $7.3 billion, a 34% drop from the $11 billion recorded in transactions volume in JuneAccording to the report, in July, the total volume of transactions completed on PancakeSwap was $7.3 billion, a 34% drop from the $11 billion recorded in transactions volume in June. In addition, in July, the DEX's unique traders and onsite users also dropped by 9% and 18%, respectively. A look at PancakeSwap’s weekly scheduled token burns shows that about 27 million CAKE tokens were burned in July. This is a part of the DEX’s deflationary mechanism to control the supply of its CAKE token and support its price. The amount of CAKE tokens burned in July is about 15% of the total circulating supply.
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