The popular decentralized exchange Uniswap has hit a milestone of processing more than $100 billion in trading volume in its entire life.
Ever since the beginning of 2021, the DEX has been doing more than $5.5 billion per week, which went past $7 billion during the second week of February, as per Uniswap.Info.
With this much volume, Uniswap is the leading decentralized exchange (DEX), capturing the majority of market share, 54.4%, which is down from 70.7% on August 31st due to SuhsiSwap’s launch.
The TVL (total value locked) of the protocol has also surpassed $4 billion for the first time.
@Uniswap just became the first decentralized trading platform to process over $100b in volume – an exciting milestone for DeFi
pic.twitter.com/hUoM36aG6A
— Hayden Adams
Much like the exchange, its token UNI is experiencing a significantly positive price performance. Uniswap Token, with a market cap of $6.34 billion, is trading above $21, up 345% this year so far.
After exchange balances peaked at 36.86 million UNI in early January, a 10% outflow of over 5.3 million UNI tokens occurred, supporting a price rally from $6.33 to over $23.26.
According to Glassnode, over this same period of time, the number of intra-day transactions transferring UNI tokens tripled from 277tx per hour to a peak of 830tx per hr. However, despite this continued price appreciation, there has been a marked slow-down of transaction counts for UNI tokens since the beginning of this month.
The post Uniswap Hits Over Bln in Weekly Trading Volume & 0 Billion Overall first appeared on BitcoinExchangeGuide.
