Hassan Maishera
The Pancakeswap team told its community via Twitter on Tuesday that it has burned 7,213,070 CAKE tokens (worth $26 million) this week. The decentralized exchange generated $449,000 (124k CAKE tokens) in trading fees for its Swap and Perpetual market, down by 19% from the previous week. The Predictions and Lottery markets generated 67k CAKE ($234k) and 35k CAKE ($127k), respectively. The NFT marketplace generated 417 CAKE ($2k), down by 41% 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 $3.588.
