A whale withdrew 1 million CAKE from a CEX, worth $2.16 million

Odaily reports: According to Arkham monitoring, whale 0xf82 withdrew 1 million PancakeSwap (CAKE) tokens from Bybit, worth $2.16 million. In addition, the whale also withdrew 800 BNB, worth approximately $576,000.

The PancakeSwap core team previously proposed a governance proposal called "The Flip," which plans to increase the proportion of trading fees from v3 and Infinity liquidity pools distributed to liquidity providers (LPs) to 88%, covering all 11 supported blockchains, while reducing CAKE's daily effective emissions from 22,500 to 7,000, a decrease of approximately 69%.