The CAKE token is up 25%. Reasons and other altcoin leaders.

On December 26, after burning 10 million CAKE tokens, native coin quotesDEX-PancakeSwap platforms jumped by 25% - from $2.95 to $3.72.

The price subsequently corrected to $3.35, but has recovered to $3.65 at the time of writing. 

CAKE's weekly growth was 65%. The asset's market capitalization increased from $590 million to $965 million during this period, according to CoinGecko .

Price movements began against the backdrop of reports of the burning of 10,166,225 CAKEs worth about $34 million as part of a reduction in the token issue.

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$BTC $CAKE