Decentralized exchange (DEX) Uniswap has capped $1 trillion as a whole buying and selling volume since launching on Ethereum at the end of 2018.
That develops from a relatively small users list, however, indicating that there’s lots of potential growth in the future. Based on data from Uniswap Labs, that are major contributors to the introduction of the protocol and ecosystem, the DEX’s quantity of cumulative addresses hit around 3.9 million this month after approximately 3 years.
The information was published via Twitter on Tuesday, using the Uniswap Labs team noting that: “Over yesteryear 3 years, the Protocol has Onboarded countless users to everything about decentralized finance (DeFi), Introduced fair and permissionless buying and selling, Decreased the barrier to liquidity provision.”
2/ In the last 3 years, The Protocol has
Onboarded countless users to everything about DeFi
Introduced fair and permissionless buying and selling
Lowered the barrier to liquidity provision pic.twitter.com/mT2ZzjMTav— Uniswap Labs (@Uniswap) May 24, 2022
Uniswap is presently supported on Ethereum and layer-2 scaling solutions Polygon, Optimism and Arbitrum. Uniswap Labs also revealed earlier this year the DEX is going to be expanding to two Ethereum Virtual Machine- (EVM)-compatible chains in Gnosis Chain, and Polkadot-based para-chain Moonbeam Network.
When it comes to trade volume, Uniswap ranks well in front of its competition within the DEX market. Data from CoinGecko implies that Uniswap’s v3 protocol generated $938 million price of volume in the last 24 hrs, representing 33% from the total share of the market.
Compared, Binance Smart Chain-based PancakeSwap (v2) ranks second with $491 million and 17.3% from the share of the market.
When evaluating Uniswaps’s 24 data with centralized exchanges (CEXs), its $938 million price of volume places rid of it behind platforms for example Binance, FTX and Coinbase, which generated $12.2 billion, $1.95 billion and $1.79 billion, correspondingly.
Particularly, however, the DEX is well in front of some big players within the crypto sector for example Crypto.com and Kraken, which generated $724.9 million and $597.4 million each.
Uniswap has additionally accumulated roughly $5.93 billion price of total value locked (TVL), the 5th-largest sum within the DeFi sector, based on DefiLlama, while PancakeSwap ranks seventh with $4.27 billion price of TVL. MakerDAO represents the biggest platform with $9.82 billion in TVL.
Related: Uniswap launches investment capital wing for Web3 investments
Despite Uniswap’s capability to attract strong demand and liquidity, it hasn’t done much to sway the cost of their native asset Uniswap (UNI) in 2022. Since the beginning of The month of january, UNI has dropped around 67% to sit down at $5.59 during the time of writing.
UNI’s all-time a lot of $44.92 seemed to be in early May 2021, and it is lower 87.5% since that time.
