Uniswap is the largest DEX in the world.
According to trackers, the exchange, on average, registers over $300 million in daily trading volumes. On Dec 14, Uniswap posted daily averages of $343.8 million.
Coincidentally, the uptick in trading volumes is at a time when there is an observable change in the trend of total value locked (TVL) in DeFi.
On Dec 15, there were $14.9 billion of digital assets under management by different dApps. A majority is locked in Maker, but Uniswap added 7.4k ETH on the last day.
At this rate, the exchange is the most dominant, drawing more volumes than competitors like Bancor, Ox, Sushiswap, and Curve.
DEXes form a big part of DeFi.
The absence of KYC and the incentives created by project creators mean there is more benefit in trading via trustless swapping protocols.
However, innovation in the space has seen an increase in the use of a stablecoin, DAI, and other alternatives, which algorithmically brings the stability of fiat to crypto.
source: https://btcmanager.com/uniswaps-trading-volumes-50-billion-eth/
Topic: Uniswap’s Trading Volumes Soared to over $50 Billion (Read 73 times)
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