Furthermore, as can be seen from the image below, its TVL also wasn’t at the receiving end of some significant movement. The total TVL at press time stood at $2.82 billion.The fees and revenue collected by the DEX declined as well.
At the time of writing, the total amount of fees generated by PancakeSwap was $362,000 and the revenue it garnered stood at $43,000.One of the reasons for the declining revenue could be the depreciating number of transactions on the DEX. Since the past three months, the number of transactions made on PancakeSwap declined. A declining number of transactions could have a bearish impact on CAKE.At the time of writing, CAKE was trading at $4.39 and had appreciated by 0.
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