Hassan Maishera
The Pancakeswap team told its community via Twitter on Tuesday that it has burned 6,974,492 CAKE tokens (worth $24 million) this week. The decentralized exchange generated $349,000 (101k CAKE tokens) in trading fees for its Swap and Perpetual market, up by 44% from the previous week. The Predictions and Lottery markets generated 64k CAKE ($218k) and 32k CAKE ($109k), respectively. The NFT marketplace generated 423 CAKE ($1k), up by 13% 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 $3.395.
