Uniswap, at press time, had accumulated a seven-day trading volume of $9.7 billion. In doing so, it has continued to dominate the DEX space. In fact, Uniswap’s daily trading volume just exceeded Coinbase recently. This further goes on to illustrate the growing prominence of DEXs in the space. Despite such growth, however, is Uniswap well-equipped […]
Uniswap, at press time, had accumulated a seven-day trading volume of $9.7 billion. In doing so, it has continued tothe DEX space. In fact, Uniswap’s daily trading volume just exceeded Coinbase recently. This further goes on to illustrate the growing prominence of DEXs in the space.
Despite such growth, however, is Uniswap well-equipped to ward off challenges from close competitors such as Curve Finance?Recent on-chain data has emerged that goes on to solidify Uniswap’s dominance in the market. Despite the Q2 ambush, Uniswap set a 2022 milestone of 1920 new users on the protocol in May. On 7 and 8 May, there were almost 2K new users, but the number fell drastically as ETH’s price fell drastically.
However, user growth was prevalent across July as network activity grew multifold during this period. The average user has since increased to 100 too, with the same growing steadily.There are almost 6 million users who swapped tokens. Almost 1/3rd of them used Uniswap V3 and 96% of them only swapped. Only 3% of the Uniswap V3 swap users provided liquidity. 2-% of the total liquidity providers only provided liquidity and did not use the swap feature.
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