The Pancakeswap team told its community via Twitter on Monday that it has burned 6,827,850 CAKE tokens (worth $27 million) this week. The decentralized exchange generated $1 million (356k CAKE tokens) in trading fees for its Swap and Perpetual market. The Predictions and Lottery markets generated 59k CAKE ($229k) and 43k CAKE ($168k), respectively. The NFT marketplace generated 469 CAKE ($2k).
Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.
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