Hassan Maishera
The Pancakeswap team told its community via X on Monday that it has burned 8,888,476 CAKE tokens (worth $18 million) this week. The decentralized exchange generated 140k CAKE ($281k) in trading fees for its V2 Swap and Perpetual market, up 66% from the previous week. Pancakeswap also generated 105k CAKE ($209k), up 11%. The Predictions and Lottery markets generated 57k CAKE ($114k) and 24k CAKE ($48k), respectively. The NFT marketplace generated 300 CAKE ($1k), down 19% 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 2.5% today and is currently trading at $1.961.
