The Pancakeswap team announced via Twitter on Monday that it had burned 6.7 million tokens (approximately $66 million). The team also earned $3.7 million from trading fees over the past 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 less than 1% so far today and is currently trading at $9.95