Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,139,213 CAKE tokens (worth $18 million) this week. The decentralized exchange generated 178k CAKE ($341k) in trading fees for its V2 Swap and Perpetual market, up 4% from the previous week. Pancakeswap also generated 141k CAKE ($271k), up 59%.
The Predictions and Lottery markets generated 58k CAKE ($111k) and 29k CAKE ($56k), respectively. The NFT marketplace generated 100 CAKE ($200), down 91% 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 4% today and is currently trading at $1.849.
