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, What is the “new normal” for Uniswap?, Forex-News, Forex-News
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What is the “new normal” for Uniswap?

3
, What is the “new normal” for Uniswap?, Forex-News, Forex-News


, What is the “new normal” for Uniswap?, Forex-News, Forex-News

The decentralized exchange, or DEX, Uniswap, continues to lead the sector as it approaches an average trading volume of $ 1 billion per day for the month of January. Will it be the new normal?

Is a billion dollar volume a day the new normal?

Indeed, only two-thirds of the month and the platform has already surpassed the previous monthly commercial volume record of $ 15.3 billion. Established in September during the DeFi boom.

Most importantly, the DEX topped $ 17 billion and is on track to top $ 25 billion by the end of January. With a daily average of $ 855 million.

In particular, Uniswap traders have many options to choose from, with 1,558 currencies traded on more than 2,400 pairs. However, most tend to favor less risky trades.

By the way, trading between Stablecoins, such as USDC, Tether, and DAI, against ETH, accounted for 45% of the $ 1.1 billion traded in the last 24 hours.

What is Uniswap?

It is worth explaining that Uniswap is a decentralized exchange protocol based on Ethereum. That allows anyone to exchange ERC20 tokens.

This protocol was created by Hayden Adams in 2018. Although, the underlying technology is inspired by ideas from Vitalik Buterin, co-founder of Ethereum.

Some opinions

In particular, the founder Uniswap’s Hayden Adams tweeted in December that the platform had surpassed $ 50 billion in all-time trade volume.

By the way, I ask the crypto community, when would it hit 1 trillion dollars. 49.5% of those surveyed said this would happen in 2021.

Currently at around $ 70 billion in all-time trade volume, the DEX would have to average roughly $ 2.7 billion per day to reach $ 1 trillion by the end of the year.

About, Matteo leibowitz, strategy leader Uniswap, already claims that the billion dollar trading volume is here to stay:

«$ 1 billion daily volume is the new normal».

For his part, Hayden Adams compared this to the New York Stock Exchange, saying that: «2% of (NYSE) is the new normal for Uniswap. When 100%?»

Indeed, DEXs in general have had a strong growth trajectory over the last 30 days, increasing by 112%.

Under these circumstances, the total volume traded in the last 30 days is $ 43.5 billion. With approximately $ 1.9 billion added each day.

I close with this phrase by Bill Gates: «It’s okay to celebrate success. But, it is more important to pay attention to the lessons of failure».





, What is the “new normal” for Uniswap?, Forex-News, Forex-News

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