https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Uniswap’s trading volume soared 450% to $ 7 billion. This is why, Forex-News, Forex-News
Bitcoin
$56,974.04
+2584.38
Ethereum
$3,454.81
+118.68
Litecoin
$346.33
+36.61
DigitalCash
$395.72
+22.39
Monero
$405.23
+11.14
Nxt
$0.07
0
Ethereum Classic
$97.99
+32.46
Dogecoin
$0.62
+0.08

Uniswap’s trading volume soared 450% to $ 7 billion. This is why

7
, Uniswap’s trading volume soared 450% to $ 7 billion. This is why, Forex-News, Forex-News


, Uniswap’s trading volume soared 450% to $ 7 billion. This is why, Forex-News, Forex-News

A new DeFi project called Delta was launched on Uniswap. Its rebase system has made the trading volume on the decentralized exchange appear higher than normal. The trading volume on the decentralized exchange Uniswap has increased 450% in the last 24 hours. Also, the total volume, according to Uniswap.info statistics, is $ 7.17 billion, compared to $ 1.6 billion yesterday. The previous daily record was $ 2.19 billion on October 26, 2020.

The token responsible for most of the current volume is DELTA. In the last 24 hours, you’ve made $ 6.13 billion in trading, or 85% of total volume, despite just $ 16.4 million in liquidity.

Why did Uniswap’s trading volume skyrocket?

The new record, unfortunately, will not stand. Uniswap creator Hayden Adams wrote on Twitter that the statistics DELTA has accumulated will not count towards the overall DEX volume due to a quirk of the Delta protocol. After that change, the actual trading volume hovers around $ 1.05 billion, a fairly normal day for Uniswap.

Delta may not ring because it is new. Its token, which resides on top of the Ethereum blockchain, was launched yesterday. To get it without gambling, you need to use Uniswap. Delta calls itself “a chain option layer that uses a combination of liquidity standards to lower premiums and offer competitive option prices.” More simply, options trading becomes expensive and volatile when there is a lack of liquidity; Delta says she wants to fix this.

Their methods of doing this are far from intuitive to new insiders to DeFi, the catchphrase for decentralized financial systems that allow people to trade, earn interest, borrow, and lend crypto without using banks or brokers.

Basically, Delta introduces a liquidity grant program: “When Delta is transferred, a token grant program is activated,” the Delta Financial team wrote in an explainer on February 9. “10% of the total balance of the token is sent to the user while 90% is initially locked and linearly released, over a period of 2 weeks.”

, Uniswap’s trading volume soared 450% to $ 7 billion. This is why, Forex-News, Forex-News

Is this the only reason?

But the large volumes that Uniswap is seeing are the result of Delta’s liquidity readjustment system, an algorithmic way of increasing the price to mint tokens over time. The way the system is designed makes it look like a laundering exchange (exchanging tokens back and forth to increase the volume and price of a token), although it is not because the exchange does not cause transactions to be canceled between Yes. Instead, Delta is toying with Uniswap’s liquidity pools to ostensibly maintain solid liquidity and make the price less volatile. (Delta has not yet responded to a request from Decrypt for comment on its protocol.)

Decentralized exchanges like Uniswap comprise one corner of the DeFi space. DEXs differ from centralized exchanges (such as Coinbase and Binance) by eliminating the need for users to relinquish custody of their tokens. While centralized exchanges store tokens to help facilitate exchanges, decentralized exchanges allow people to trade directly with each other.

They also allow almost anyone to start trading their own tokens, even if it loses their numbers for a day.



, Uniswap’s trading volume soared 450% to $ 7 billion. This is why, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Uniswap’s trading volume soared 450% to $ 7 billion. This is why, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More