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Sunday, July 25, 2021

Uniswap’s Trading Volume Hits 100 Billion Dollars

Uniswap is a decentralized exchange that was founded back in May of 2020. It has come a very long way ever since. It managed to become the first decentralized financial platform to trade over 100 billion dollars in cumulative trading volume. The exchange, which is less than a year old, every month has an average trading volume of 11.1 billion dollars. The firm also allows its subscribers to swap tokens of ECR20. This is an exciting milestone for a DeFi exchange

ECR20 coins run on the blockchain of Ethereum and have gained widespread popularity in the cryptocurrency world. This is because these projects on DeFi are built on networks of Ethereum. And the sector has seen overall growth in the past year. Hence, investors are interested more than ever before. Uniswap is one of those platforms. And since the company may be the first, it surely won’t be the last at this pace. Hayden Adams, the creator of the exchange, announced the news of the social network— Twitter. He called this rise “exciting” and a “milestone.” 

Uniswap’s Rise In Popularity

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Uniswap’s tokens are called UNI. The market capital of the exchange is currently 6.3 billion dollars. Hence, it was one of the firms that rose during the 2020 explosion of the decentralized financial sector. Ever since the token has reached the top 20 digital coins in the world when considering marketing capital. What makes it stand out is that it is a token with governance. Hence, investors and holders of UNI can help in determining the future steps of its protocols. 

When it comes to smart contracts, it has 3.9 billion dollars trapped in the exchange. And the milestone Uniswap has achieved today proves that the transactions are processing more than it ever has. 

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