PancakeSwap January Report: $15.5 Billion in Total Volume, -178,547 Net Mintage

DEX PancakeSwap released its January report with data on key metrics showing 1) total transaction volume of $15.5 billion; 2) average daily volume of $499 million; 3) number of independent traders of 1.8 million; and 4) number of Web3 wallet users of 48,000. In addition, the report disclosed that in January 2024, PancakeSwap had a net mintage of -178,547 tokens, meaning that more CAKE tokens were destroyed than minted in that month.