Uniswap’s weekly and 24-hour trade volume has been a topical conversation on social media and crypto-related forums. A number of crypto enthusiasts wonder if dex volumes will someday supersede cex volumes entirely.
Just recently, the defi space has touched a few new milestones as the ecosystem’s TVL this week has topped billion. The dex Uniswap is dominating the defi landscape by 18.65% with over billion TVL to-date.
The decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping billion in total value locked (TVL) this week. Tuesday’s data shows out of all the decentralized finance (defi) application’s Uniswap dominates the billion landscape by over 18%.
Dex volume in general has been quite large this week and during the last seven days Dune Analytics data shows 13 dex platforms saw .7 billion in trades. .3 billion of those swaps took place on Uniswap as it currently captures 63.7% of the trailing seven day average.
Cumulatively, all 13 dex platforms saw a whopping billion in swaps during the last 30 days. Dex platforms following Uniswap’s trade volume lead include Curve.fi, 0x, Balancer, Kyber, Synthetix, Dydx, and the Bancor Network respectively.
What do you think about Uniswap’s massive trade volume this week and during the last 24 hours? Let us know what you think about this subject in the comments below.
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Coinbase Pro is the second-largest cex in terms of trade volume on Tuesday with 3 million trades during the last 24 hours. Uniswap is well above Coinbase Pro with 8 million today, making the dex the second-largest crypto exchange worldwide in terms of trade volume on September 29.
The post Uniswap Captures Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange appeared first on Bitcoin News.
“In the last bull market, critics said ETH had no use case besides scammy ICO’s,” the CTO and analyst Leon Fu from the web portal cryptocurrency.market recently told his 19,000 Twitter followers. “With the rise of stablecoins, Uniswap, and other protocols [that] enable actual utility [and] have nothing to do with ICO’s. Clearly, ETH skeptics were wrong,” he added.
Today according to stats, the Uniswap dex is moving just as much trade volume as some of the top centralized exchanges (cex) globally. On Tuesday, Binance has the top trade volume as far as cex trade volumes are concerned with .5 million in 24-hour volume.
Uniswap is followed by Makerdao (.9B), Aave (.56B), Curve.fi (.22B), and the Wrapped Bitcoin (WBTC) project (0M). The Uniswap trading platform has captured a massive amount of demand this week with 104,324 unique users during the last seven days.
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