• Uniswap (UNI) achieved a historic milestone with $391 million in 24-hour trading volume.
• Uniswap has outpaced Bitcoin (BTC) and Cardano (ADA) in terms of volume traded during the past 24 hours.
• Uniswap V3 has experienced substantial growth in its 24-hour trading volume, facilitated by liquidity.
Uniswap Achieves Historic Milestone
Uniswap has achieved a historic milestone, surpassing Bitcoin (BTC) and Cardano (ADA) by recording $391 million in 24-hour trading volume. The success of the network is attributed to its liquidity, which has helped facilitate significant growth in the 24-hour trading volume of Uniswap V3.
Uniswap Outpaces Competitors
The data reveals that Uniswap’s network has outpaced both Bitcoin (BTC) and Cardano (ADA), rating it at 24th place among cryptocurrencies regarding market capitalization. In addition to this, Uniswap is now rated as the leading decentralized exchange within the Web 3.0 ecosystem due to its solid performance.
FTX Fallout Boosts Decentralized Exchanges
Having debuted in 2018, Uniswap is now considered as one of the foremost decentralized exchanges within Ethereum’s ecosystem, providing users with an effortless way to convert ERC-20 tokens into one another. Furthermore, it recently marked 200 million unique transactions on its platform, indicating a growing level of interest from market participants towards it.
The bullish attitude towards Uniswap comes as no surprise given its increasing adoption rate throughout recent years; with more people becoming comfortable with using decentralized exchanges for their trades over other centralized options such as FTX or Binance Spot Markets.
Overall, it appears that Uniswap is well on track to become a major player within DeFi space and decentralized exchanges as a whole; while also continuing to exceed expectations when it comes to facilitating cryptocurrency trades for users around the world.