Hassan Maishera
The Pancakeswap team told its community via X on Tuesday that it has burned 9,008,476 CAKE tokens (worth $15 million) this week. The decentralized exchange generated 102k CAKE ($167k) in trading fees for its V2 Swap and Perpetual market, down 21% from the previous week. Pancakeswap also generated 96k CAKE ($158k), down 46%. The Predictions and Lottery markets generated 78k CAKE ($128k) and 31k CAKE ($51k), respectively. The NFT marketplace generated 2000 CAKE ($2,900), up 14% 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 3% today and is currently trading at $1.669.
