CRYPTONAIRE
WEEKLY CRYPTO investment journal
Uniswap’s (UNI) trading volume exceeds $100 billion
Uniswap (UNI) has become the first decentralized finance (DeFi) trading platform to generate over $100 billion in volume, the protocol’s founder Hayden Adams announced today.
“Uniswap just became the first decentralized trading platform to process over $100b in volume – an exciting milestone for DeFi,” Adams tweeted. This milestone is a logical continuation of the “DeFi boom” that began last summer. As CryptoSlate reported, Uniswap’s rise to prominence ultimately led to the platform slowly eclipsing Coinbase and other centralized trading platforms in early September.
“Second day in a row where Uniswap volume > Coinbase. This month, multiple DEXes like Curve, 1inch, Balancer, also have volume on par with big exchanges like Kraken, Bitstamp, Gemini, etc. Most of these CEXs have multi-billion valuations. ETH is still sub-50B mktcap,” pseudonymous trader CL noted at the time. Notably, Uniswap’s monthly trading volume reached $20 billion in January alone, clearly demonstrating the exponential growth of the sector. For comparison, the platform’s daily volume has already surged to over $1.14 billion today, data provided by crypto metrics platform CoinGecko shows. At press time, the total dollar value locked in Uniswap amounted to roughly $4 billion, according to DeFi Pulse. Read more...
Cryptonaire Weekly | February 16th 2021
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