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Uniswap hits $ 10 billion in weekly trading volume for the first time according to BTC Peers

Uniswap hits $ 10 billion in weekly trading volume for the first time

Amid Ethereum’s staggeringly high transaction fees, Uniswap has been doing surprisingly well over the past few months. A tweet from Hayden Adams on April 20 revealed that the decentralized protocol has surpassed a transaction volume of $ 10 billion for the first time ever.

By comparison, weekly trading volume was about 5 billion dollars six months ago. Hayden’s tweet was accompanied by a chart showing a 25.7% increase in weekly disk volume.

In addition to the increased trading volume, Uniswap also saw a large influx of new traders. Adams believes that with currency exchange rates, exchanges can easily surpass a $ 500 billion trading volume by the end of 2021.

Uniswap is one of the key players in the DeFi market. Exchanges currently dominate the market, with the total value of assets locked onto the protocol being more than $ 177 billion.

Analysts speculate that the protocol will continue to evolve after the upcoming launch of Uniswap V3. As reported by BTC PEERS, the new version will introduce a number of new improvements to the platform. Some of these changes include centralized liquidity and multiple fees. And while the former gives liquidity providers (LP) more control over their allocated cost price range, many fees ensure that the LP is compensated in proportion to their level of risk. experience.

Continue reading on BTC Peers

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