Uniswap Breaks $1T Volume

The volume of DEX has exceeded $1 trillion and has reached approximately 3.9 million cumulative users this month.

Decentralized exchange Uniswap has surpassed $1 trillion in total trading volume.

This is a sign of potential growth in the future. DEX’s cumulative address count reached nearly 3.9 million this month, a little over three years later, according to the latest data.

Uniswap Labs team:

Over the last three years, Protocol has added millions of users to the decentralized financial world, Initiated fair and unauthorized trading, Lowered the barrier to liquidity provision.

Uniswap is currently supported on Ethereum and layer-2 scaling solutions Polygon, Optimism and Arbitrum. Uniswap Labs has announced that DEX will expand to two Ethereum Virtual Machine compatible chains on the Gnosis Chain and the Polkadot-based coin-chain Moonbeam Network.

Uniswap is way ahead of its competition in the DEX market. Recent data shows that Uniswap’s v3 protocol generated $938 million worth of volume in the last 24 hours, representing 33% of the total market share.

Binance Smart Chain-based PancakeSwap is in second place with $491 million and 17.3% market share.

Comparing Uniswaps’ 24 data to centralized exchanges (CEXs), its $938 million volume places it far behind platforms like Binance, FTX and Coinbase, which generated $12.2 billion, $1.95 billion and $1.79 billion respectively.

DEX is well ahead of companies in the crypto industry like Crypto.com and Kraken, which each generated $724.9 million and $597.4 million.

It has accumulated approximately $5.93 billion in locked total value (TVL), the fifth-largest total in the DeFi industry, while PancakeSwap is in seventh place with a TVL of $4.27 billion.

MakerDAO tops TVL with $9.82 billion.

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About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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