The Pancakeswap team told its community via Twitter on Monday that it has burned 7,123,715 CAKE tokens (worth $29 million) this week. The decentralized exchange generated $1.38 million (334k CAKE tokens) in trading fees for its Swap and Perpetual market and $65k (16k CAKE tokens) from its NFT marketplace. The Predictions and Lottery markets generated 75k CAKE ($308k) and 40k CAKE ($166k), respectively.

PancakeSwap is a BNB Chain-based decentralized exchange (DEX) with an automated market maker (AMM) model for swapping BEP-20 tokens. CAKE is up by more than 1% today and is currently trading at $4.182.