Logs from on-chain analytics company IntoTheBlock reveal that several indicators are beginning to hit new milestones at Uniswap. In fact, Uniswap could be seen to go after Ethereum in recent social media mentions.
According to the records of the analysis company, it could be observed that in the last two days, the total volume of daily trading in the protocol increased by 43%. On January 25, it closed with a trading volume of just under $ 925 million.
This increase has been accompanied by a similar movement in Uniswap’s transaction fees. That have more than doubled those of Bitcoin.
Uniswap goes after Ethereum
On the other hand, following the Ethereum price surge to new highs, Uniswap and Aave appear to have followed the token. Since they have appeared in the TOP of the conversation topics of social networks.
Santiment’s data shows that UNI ranks third for topics of interest when it comes to crypto enthusiasts.
Investors with large amounts of capital appear to be amassing a particular decentralized financial asset (DeFi) at a rapid rate.
New data from crypto analytics firm Santiment shows that the number of whales buying Uniswap (UNI) has skyrocketed since the beginning of the month.
“Uniswap just broke the all-time high and crossed $ 13 for the first time. The new whale directions are a clear reason! Data from our whale keepers indicate that addresses with 100,000 or more UNIs have inflated to a new high at 237. ‘
Recall that Uniswap is a decentralized exchange built on the Ethereum network. The platform fueled the rise of Automated Market Maker (AMM) protocols, which allow users to exchange assets through smart contract technology rather than a central intermediary.
DeFi’s market capitalization is $ 45 billion
The decentralized finance sector continues to go full steam ahead as multiple tokens hit new all-time highs. And the total value locked in DeFi protocols grows with each passing week.
Messari data shows that projects like AAVE, Uniswap (UNI), SushiSwap (SUSHI) and Synthetix (SNX) have recovered in double digits. Creating a positive feedback loop as more users engage with protocols for yield farming and take advantage of flash loans.
As the price of Bitcoin (BTC) and Ethereum (ETH) hit new highs in recent months, the total value locked (TVL) in DeFi has also increased.
In this way, it has triggered optimism and participation in the various decentralized exchanges (DEX) and loan platforms. CoinGecko data shows that in the last 6 months DeFi’s total market capitalization has grown to $ 45 billion.
Gemini Exchange Adds Local Currency and DeFi Tokens in Singapore Expansion
Gemini, the cryptocurrency exchange founded by the Winklevoss brothers, is expanding its Singapore operation with new listings, features, and hires.
The US-based cryptocurrency exchange and custodian said it has added 20 new tokens for trading. Including various DeFi tokens such as Yearn.Finance, Uniswap and Filecoin.
Gemini has also added support for the Singapore dollar to its mobile and desktop applications, enabling fast bank transfers for account deposits and cryptocurrency purchases via debit card using SGD.