Hassan Maishera
The Pancakeswap team told its community via Twitter on Monday that it has burned 7,031,494 CAKE tokens (worth $29 million) this week. The decentralized exchange generated $662,000 (158k CAKE tokens) in trading fees for its Swap and Perpetual market, down by 13% from the previous week. The Predictions and Lottery markets generated 57k CAKE ($241k) and 34k CAKE ($141k), respectively. The NFT marketplace generated 769 CAKE (34k), up by 5% 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 down by 1% today and is currently trading at $4.050.
