The Pancakeswap team told its community via X (formerly Twitter) on Monday that it has burned 8,743,965 CAKE tokens (worth $22 million) this week. The decentralized exchange generated 128k CAKE ($323k) in trading fees for its V2 Swap and Perpetual market, down by 36% from the previous week. Pancakeswap also generated 101k CAKE ($253k) for V3. The Predictions and Lottery markets generated 48k CAKE ($122k) and 25k CAKE ($62k), respectively. The NFT marketplace generated 9k CAKE ($2k)), up by 9% from last week.
Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.
Sign up to our Newsletter
Want to read more amazing articles just like this one? Sign up to our newsletter to get them delivered to your inbox once a week!