Uniswap's August Volume Topples July $1.76B Record in Less Than Two Weeks
Uniswap reported more than $1.76 billion in monthly volume as of Wednesday.
Aug 13, 2020 at 12:45 a.m. UTCUpdated Mar 2, 2023 at 10:34 p.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/6G6LMMOYQRBZXFVPZ33RC5RQQI.png)
Uniswap's August trading volume beat July's record high less than halfway into August, surpassing $1.76 billion, leaving more than two weeks to push further into record territory.
STORY CONTINUES BELOW
- Current monthly volume marks the fourth consecutive record high for the leading decentralized trading and automated market-making platform.
- In the past 24 hours, Uniswap reported $213 million in volume, accounting for more than 60% of all decentralized exchange volume, according to Dune Analytics.
- The new high also comes less than three months after version 2.0 of the protocol launched with a plethora of new features.
- Notably, at the end of July, Coinbase-backed startup Dharma integrated Uniswap to its mobile trading app.
- As trading volume grows, Ethereum network fees are skyrocketing. Average transaction fees have spiked 600% to $5.27, according to Blockchair.
- Despite the fees, decentralized trading volume "doesn't look like it will be slowing down anytime soon," said Jack Purdy, decentralized finance analyst at Messari, provided the "money-making opportunities continue to outweigh the cost."
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)