The Pancakeswap team informed its users on Tuesday through Twitter that 7,822,421 CAKE tokens (worth $20 million) have been consumed this week. The decentralized exchange increased its Swap and Perpetual market trading fees by 31% to $538,000 (205k CAKE tokens), over the previous week. 83 CAKE ($216k) and 30 CAKE ($78k) were created by the lottery and predictions markets, respectively. Compared to last week, the NFT marketplace generated 878 CAKE ($2k), an increase of 99%.
PancakeSwap is a decentralized exchange (DEX) powered by the BNB Chain that uses an automated market maker (AMM) approach to trade BEP-20 tokens. CAKE is now selling at $2.515, down 4% from yesterday.
