Hassan Maishera
On Monday, the Pancakeswap team told its community via X that it had burned 9,312,014 CAKE tokens (worth $23 million) this week. The decentralized exchange generated 117k CAKE ($293k) in trading fees for its V2 Swap and Perpetual market, down 65% from the previous week. Pancakeswap V3 also generated 752k CAKE ($1.89M), up 31%. Other Sources (Prediction, Perpetual, etc.) was 34k CAKE ($86k), down 70%.
PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up 20% today and is currently trading at $2.466.
