Hassan Maishera
The Pancakeswap team told its community via Twitter on Monday that it has burned 7,153,999 CAKE tokens (worth $27 million) this week. The decentralized exchange generated $958,000 (255k CAKE tokens) in trading fees for its Swap and Perpetual market, up by 80% from the previous week. The Predictions and Lottery markets generated 84k CAKE ($315k) and 35k CAKE ($32k), respectively. The NFT marketplace generated 560 CAKE ($2k), up by 4% 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 $3.771.
