Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 5,675,332 CAKE tokens (worth $10 million) this week. The decentralized exchange generated 145k CAKE ($268k) in trading fees for its V2 Swap and Perpetual market, down 22% from the previous week. Pancakeswap V3 also generated 868k CAKE ($1.60M), down 3%. Other Sources (Prediction, Perpetual, etc.) was 62k CAKE ($114k), down 50%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is down 12.5% today and is currently trading at $1.690.
