Join the larget crypto conference of 2022 in Bitcoin


Uniswap hits another milestone in terms of trade volume

0
(0)
Uniswap hits another milestone in terms of trade volume 6

Recently the lifetime cumulative trading volume of the Uniswap protocol has crossed the $1 trillion, despite its token price continuing to struggle.

The Uniswap community today celebrated their spectacular milestone as the protocol approved a $1 trillion lifetime cumulative trade volume.

Launched back in November 2018 on Ethereum Mainnet, Uniswap is one of the first decentralized exchanges to launch so far. Its sole purpose is to provide a non-custodial platform for transfer, trade, and purchase on the Blockchain and now the protocol saw a volume of more than a trillion dollars through it after three-and-a-half years.

Currently, Uniswap has a daily volume of $1.4 billion which is about 3 times more than its nearest rival Pancakeswap ($500 million), and about nineteen times more than Sushiswap ($71 million) the second largest Ethereum based decentralized exchange. On November 10, 2021, it reached an all-time high of $8.8 billion per day.

Uniswap has Ethereum, Polygon, Optimism, and Arbitrum, where about $5.9 billion in total value locked(TVL), while Sushiswap and Balancer are valued at $2.1 billion each, while Bancor is valued at $631 million, $1 inch has $10 million locked. The most locked protocols include lending protocols like MakerDAO ($9.7 billion), Curve ($ 9.1 billion), and Aave ($8.6 billion).

The all-time high TVL of Uniswap was worth $10.5 billion back on December 1, 2021. TVL was in the range of $6 billion to $8 billion due to the market downturn caused by the breakdown of the terra ecosystem on May 7.

However, despite these remarkable numbers, the market capitalization of the protocol has been in a steady downward trend now for more than a year. At the beginning of May 2021, the undiluted full market capitalization of Uniswap reached an all-time high of $33.3 billion and the UNI token reached $42.33 at that time. Today, its absolute thin market capitalization is $5.3 billion, and its token value is $5.49.

While the entire DeFi sector has been trading in the bear market since early May 2021, Uniswap is no different from them, despite maintaining or improving the fundamentals of the protocols. Even popular protocols have lost 80% of their value. UNI is now down 87% from its all-time high.

However, the market downturn has not discouraged the Uniswap community. On May 23, the community voted without any opposition to launch the protocol on two other blockchains, the Gnosis Chain and the Moonbeam Network.

Read also: Finally, Do Kwon secured major support to restart Terra

Uniswap hits another milestone in terms of trade volume

 

https://bitcoinik.com/uniswap-hits-another-milestone-in-terms-of-trade-volume/feed/

https://bitcoinik.com/uniswap-hits-another-milestone-in-terms-of-trade-volume/feed/

 

 

 

 

 

 

 

 

 

 

Buy bitcoin and other cryptocurrencies on crypto exchanges  Binance ,  Coinbase ,  Kraken  and  Bitfinex !

 

.

.Grapefruit Media

Grapefruit Media

 

Unique Meta Crypto Investing Platform

Unique Meta Crypto Investing Platform

 

PEER USDT CLUB

Peer Usdt

Create your free account here…

 

DF

df

Read more… 

 

GOARBIT – WORLD INVESTMENT COMPANY

GOARBIT - WORLD INVESTMENT COMPANY

Read more… 

Create your free account here… 

 

SUPEREX – The most secure digital asset trading platform of the world!

SUPEREX Digital asset trading network

Read more… 

Create your free account here… 

 

SPIN2MONEY – Investing Platform

spin2money Investing Platform

Read more… 

Create your free account here… 

 

SMART PART TIME Investing Platform

 

Smart Part Time

Read more… 

Create your free account here… 

 

LIGA FIFA Betting Platform

Liga Fifa Betting Platform

fifa world cup Qatar 2022

Read more… 

Create your free account here… 

 

Ads by Cryptonews24

 

 

 

Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.

 

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

TELEGRAM
Cryptonews24 Channel Chat