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Uniswap’s weekly trade volumes reach record high of $10B


In the rating of decentralized crypto-exchanges (DEX) UniSwap occupies a leading position.

Trading volume on the Uniswap decentralized exchange has reached $ 10.31 billion over the past seven days. The indicator increased by more than 25% compared to the previous similar period.

The founder of the project, Hayden Adams, tweeted a graph that clearly demonstrates the increase in weekly trading volumes.

UniSwap has seen a sharp rise in trading performance since the middle of last year. This trend is a direct result of the hype around the DeFi ecosystem. The top three digital assets in the DeFi market include UNI, LINK and WBTC, whose capitalization exceeds $ 16.66 billion, $ 15.96 billion and $ 8.57 billion, respectively.

In February, Uniswap was the first DEX to break the $ 100 billion mark in trading volume.

According to CoinGecko, there have been $ 1.9 billion in transactions on the platform in the last 24 hours.

According to this, we see that the exchange has been demonstrating impressive performance in recent months. This is despite the fact that gas fees on the Ethereum (ETH) network continue to be prohibitive. The number of traders using the Uniswap platform is also growing, and its dominance in the market continues. As Adams commented, while maintaining the current growth rates, Uniswap’s trading volumes by the end of 2021 could exceed $ 500 billion.

Leader of DeFi

The Uniswap marketplace allows users to invest in DeFi projects that are not featured on other platforms such as Coinbase or Binance. Investor interest in the decentralized finance sector has recently increased significantly. It has led to an increase in trading volume both on Uniswap and elsewhere. According to CoinMarketCap, the total market capitalization of the DeFi market is just over $ 103.1 billion.

Uniswap is one of the recognized leaders in the decentralized finance (DeFi) segment. The total amount of funds locked in DeFi protocols (TVL) currently stands at more than $ 117 billion, which remains near an all-time high of $ 123 billion.

Against this background, the UNI coin rate is receiving tangible support, confidently settling above the $ 30 mark. At the moment, the catalysts for the growth of the UNI price are: an increase in the volume of transactions on the exchange, an increase in the total value of assets blocked on the platform, expansion of management functions as the launch of Uniswap v3 approaches.

Waiting for Uniswap V3

Even with the current correction in the market, the DeFi sector clearly intends to continue to grow. Developers are working on a number of new protocols and solutions aimed at making the DeFi segment easier and more intuitive for users.

The Uniswap project itself is preparing for a protocol update. Its third version, Uniswap V3, scheduled to launch on May 5th. For the first time, the project team announced an update in March this year. At the moment, the main and peripheral contracts are already being tested in the Ethereum test network.

The new version brings a number of valuable improvements to the old protocol. Thus, the main novelties of Uniswap V3 are considered a new approach to providing liquidity (concentrated liquidity positions) and a multi-level structure of commissions.

It is expected that the new version will be able to improve the efficiency of money management up to 4,000 times. It should also receive L2 Optimism support to address scaling issues.

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