Uniswap has crossed the $ 100 billion mark in cumulative volume.
It continues to be the market leader by a considerable margin.
Backed by DeFi, the exchange is seeing high usage despite the rising cost of Ethereum gas
The decentralized exchange Uniswap (DEX) took another milestone on February 15, reaching $ 100 billion in cumulative volume since its launch in 2020.
Uniswap became the first DEX to cross the $ 100 billion volume milestone, a feat founder Haydn Adams celebrated on Twitter on February 15.
The value counts all transactions processed since Bitcoin Code launched in August 2020.
DEX Weekly Volume: Dune Analytics
This statistic is just one more reminder of Uniswap’s dominance in the DEX market. It is by far the most popular DEX on the market, beating SushiSwap and Curve Finance by a nice margin. The latter two have processed around $ 2.9 billion and $ 1 billion respectively over the past seven days, while Uniswap has processed a staggering $ 7.3 billion.
Uniswap crushes the competition
Uniswap follows in its record behavior since January 2021, which has seen growth in many areas. This includes an increase of about 25% in cash , which stands at $ 3.6 billion.
This popularity gives Uniswap a 54% share of the DEX market. However, despite its dominance, there is still stiff competition from Sushiswap and others.
Uniswap is expected to launch a new version of its platform, Uniswap v3, in the coming months. This is expected to attract even more users – although it is impossible to know when the DeFi markets will peak. By all accounts, it doesn’t look like the momentum is stopping anytime soon.
We’re thrilled to announce that UNI, the Uniswap Protocol governance token, is live now on Ethereum mainet!
The UNI token has also been the source of much discussion. Uniswap users received 400 UNI tokens through an airdrop in September 2020. The token now costs around $ 20, 10 times more than its lowest price to date.