Hassan Maishera
The Pancakeswap team told its community via X on Monday that it has burned 8,835,311 CAKE tokens (worth $24 million) this week. The decentralized exchange generated 94k CAKE ($253k) in trading fees for its V2 Swap and Perpetual market, up by 53% from the previous week. Pancakeswap also generated 109k CAKE ($293k) for V3, up by 37%. The Predictions and Lottery markets generated 52k CAKE ($139k) and 27k CAKE ($72k), respectively. The NFT marketplace generated 1000 CAKE ($4k), 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 2% today and is currently trading at $2.680.
