Hassan Maishera
The Pancakeswap team told its community via X on Tuesday that it has burned 10,068,711 CAKE tokens (worth $23 million) this week. The decentralized exchange generated 94k CAKE ($213k) in trading fees for its V2 Swap and Perpetual market, down 16% from the previous week. Pancakeswap also generated 123k CAKE ($279k), down by 10%. The Predictions and Lottery markets generated 61k CAKE ($138k) and 23k CAKE ($53k), respectively. The NFT marketplace generated 1000 CAKE ($2k), up by 37% from last week.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by 1% today and is currently trading at $2.293.
