The Pancakeswap team told its community via Twitter on Monday that it has burned 7,153,582 CAKE tokens (worth $36 million) this week. The decentralized exchange generated $4 million in trading fees for its Spot and Perpetual market and $21k from its NFT marketplace. The Predictions and Lottery markets generated 123k CAKE ($619k) and 29k CAKE ($146k) respectively.
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 less than 1% today and is currently trading at $4.940.