Sign Up on MEXC
The DeFi search continues to rage as the total number of DeFi users has surpassed 400,000. The monthly volume on DEX has increased 60 times in August.
Uniswap is the dominant platform accounting for 57% of users. The cumulative volume on DEXs in the last 30 days is more than $10 billion. Uniswaps’ weekly volume has risen 287 times since the beginning of June.
Uniswap is a decentralized exchange (DEX) which uses an auto-marketer technique. It utilizes liquidity pools which calculates the price based on the smart contract rather than buyer and seller side equivalence.
The total value locked in Uniswap pool has crossed $1 billion, currently at $1.08 bln. The Uniswap index on FTX has surged from $27,000 to $34,000 since the launch a 25% surge.
The Uniswap Token
As reported earlier on Coingape, $UMA and $Sushi are gaining considerable momentum since last week. Sushiswap is the distant second of Uniswap, however, is gaining a lot of adoption. DeFi Framer John (alias) tweeted,
At current daily Uniswap volume, $90,000,000 a year would be going to @SushiSwap $SUSHI holders via the 0.05% take. P/E at 100mn sushi would be 3.7.
However, the extraction of rent without directly providing liquidity comes with its own risks. Hasu, a crypto researcher for Deribit tweeted,
the reason is that the job of a DEX is actually extremely simple, there is no place for governance, and therefore no justification for rent extraction.
Currently, the volume on Uniswap is comparable to top centralized exchanges including Coinbase. Moreover, innovation and development around these projects is unprecedented. Two of the most important developments in the last 24 hours have been lauch of yETH vault on yEarn and insurance offering.
Yinsure.finance will be offering insurance on their platform by Nexus Mutual, which eliminates a lot of risk from the investing.
Do you think Uniswap is better than SushiSwap? Please share your views with us.
- Michael Saylor Credits Bitcoin for Strategy’s Outperformance Over ‘Mag 7’ Stocks
- XRP Overtakes Shopify, Verizon, Citigroup in Market Value as Price Eyes $6
- Altcoin Season Index Hits New High As ETH, SOL, DOGE, and XRP Rally
- ‘Huge Breakthrough,’ Peter Brandt Says as Dogecoin Reclaims $0.30 Ahead ETF Launch
- Bitcoin Bull Cycle Could Extend To 2026, Arthur Hayes Predicts
- Bitcoin Price Q4 Rally Looms as ETF Inflows Hit $642M—Analyst eyes $150K
- Pepe Coin Price Prediction as the Token Jumps Nearly 20% – Will Whale Accumulation Take it to $0.00003?
- Pi Coin Price Prediction As Adam & Eve Pattern Signals Breakout Rally To $0.45 Ahead
- HBAR Price Prediction Amid DTCC Listing and Archax Expansion — Is $0.50 Next?
- Ethereum Price Eyes a 40% Surge as Morgan Stanley Shifts Fed Cuts Forecast
