- Crypto Currency Tracker logo - Crypto Currency Tracker logo
Cryptoknowmics 2022-05-25 06:05:56

DeFi Trading Protocol Uniswap Hits $1 Trillion in Trading Volume

Decentralized exchange (DEX) Uniswap has topped $1 trillion in lifetime total trading volume in less than four years since it was launched. According to data from CoinGecko, Uniswap ranked first among decentralized exchanges (DEXs) by volume with $1 billion in trading over the past 24 hours. The $1 trillion milestone was reached in less than a year as the DeFi protocol went processing around $250 billion in cumulative trading volume to $750 trillion in March 2022. Additional data suggests that Uniswap’s market share exceeded 50% in August 2020 and has exceeded 60% ever since. The metric has been on the rise despite the current downtrend across the crypto markets. The DEX has also seen a $500 billion increase in trading volume since the fourth quarter of 2021, according to data from Uniswap. Moreover, recently, the number of Uniswap users has reached about 4 million. In January 2021, the number of users of this indicator was less than 1 million which signifies that this is equivalent to a four-fold increase in just over a year. 1/ It’s been one hell of a ride 🚀 As of today, the Uniswap Protocol has passed a lifetime cumulative trading volume of $1 Trillion. — Uniswap Labs 🦄 (@Uniswap) May 24, 2022 Uniswap Also Amassed Over $5B in TVL Locked Uniswap has also amassed roughly $5.93 billion worth of total value locked (TVL), the fifth-largest DeFi) sector according to DeFi Llama, while PancakeSwap ranks...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.