On Tuesday, Uniswap, the founder of decentralized exchange (DEX), tweeted for the first time about a trading platform passing through $ 10 billion in weekly trading volume. Decentralized trading volumes have grown massively, as DAX platforms built on Ethereum have seen more than $ 18 billion in volume over the past week. Meanwhile, Dex PancWap, an app that uses the Binance smart chain, has skyrocketed business editions.
Uniswap’s 7-Day Statistics Capture $ 10 Billion in Global Trade Volume
Decentralized Finance (Diffie) has exploded during the last 12 months, as $ 58 billion The Total Value Lock (TVL) has been placed in the Diffie application today. A large part of this money is held on Ethereum (ETH) Blockchain, but many other blockchains are eating into this market.
While liquidity pools are getting larger, dex volumes have increased significantly during the last few weeks as well. Hayden Adams, founder of Uniswap, tweeted about a milestone for Dex, which he recently captured on $ 10 billion in seven days trading volume.
According to Adams, “Weekly trading volume passed $ 10B for the first time.” wrote. “$ 10B / week is more than $ 0.5 trillion per year,” he said. In terms of dominance using Defipulse.com statistics, Uni ranks third in terms of TVL.
The statistics Uniswap from Dune Analytics does not show the tapping of the $ 10 billion mark, but is horribly close to $ 9.7 billion. Dune Analytics has recorded $ 18 billion in DAX-based swaps through 13 different DAX applications over the past week. This includes Uniswap, Sushiswap ($ 3B), Curve ($ 2.1B), and 0x Original ($ 1.1B).
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However, these days a penxwap, called a platform that uses the Bins smart chain, is pulling in important business editions. It is becoming well known that fees on Binance’s sidechain network are much lower than Ethereum’s fees, which have come down significantly in recent times.
Have seen over pancakes $ 4 billion Global swap volume has been increasing a great deal during the past seven days and in volume for the week. This week’s biggest pairs include pancakes Bnb/ Bus, Safemoon / WBNB, and Cake / WBNB.
In addition, there are other projects, some of which have sparked interest, which are being built on BCH like SmartBooch, others that have matured like Swatchcheo’s Demax, and projects are just beginning such as Thorchen. In addition, blockchains such as Tezos, Polkadot, Cardano, and many others also want a piece of the Diffie Pie.
Additionally, the popular dex Uniswap plans to launch version three (V3) during the first week of May. Uniswap V3 is expected to see a number of newly added features which can further increase the volume of Uniswap. Meanwhile, centralized exchanges (cex) platforms face strong competition from the DAX platforms coming from all sides.
What do you think about the Dex applications that have gathered major traction and significant trade volume during the last few weeks? Let us know what you think on this topic in the comments section below.
Image credit: Shutterstock, Pixabay, Vicky Commons, Hayden Adams Twitter, Doon Analytics, Kollingko,
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