Hassan Maishera
The Pancakeswap team told its community via Twitter on Tuesday that it has burned 7,822,421 CAKE tokens (worth $20 million) this week. The decentralized exchange generated $538,000 (205k CAKE tokens) in trading fees for its Swap and Perpetual market, up by 31% from the previous week. The Predictions and Lottery markets generated 83k CAKE ($216k) and 30k CAKE ($78k), respectively. The NFT marketplace generated 878 CAKE ($2k), up by 99% 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 4% today and is currently trading at $2.515.
