Just In: Uniswaps weekly trade volumes hit a record high of 10B USD
April 20, 2021 5:47 PM
The third largest decentralized exchange just crossed a new high as it hits a new weekly volume record on Tuesday.
Uniswap decentralized exchange total transaction exceeded $10 billion amid the booming decentralized finance 'DeFi' boom.
According to a tweet from Hayden Adams, Uniswaps CEO on Tuesday with an accompanying chart showing a 25.7% weekly increase in trade volumes. At this rate, if the exchange could maintain this pace, it would have processed over $500 billion worth of transactions in the space of a year.
Uniswaps estimated trade volume for 24-hours are around $1.9 billion, according to data from CoinGecko. However, Mdex and PancakeSwap each reportedly processed over $3 billion worth of transactions over 24-hour.
The rise of Uniswap has been linked to its popularity among investors looking to access new and emerging DeFi space with new crypto gems that are yet to be available on centralized exchanges such as Binance, Coinbase or Kraken.
In February, the decentralized exchange (DEX) hits a major milestone after it cumulative trade volumes exceeded $100 billion for the first time.
The first DeFi bull run started from mid-2020 largely thanks to Uniswap growth among investors. The total value locked in DeFi projects is almost $112 billion according to latest data.