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UNISWAP TOOK A LONG JUMP LEAVING BEHIND ETHEREUM

UNISWAP TOOK A LONG JUMP LEAVING BEHIND ETHEREUM

Uniswap 

Decentralized exchange (DEX) Uniswap has outperformed its blockchain Ethereum host at a cost of over seven days.


This surgery seems to be part of the latest figure in DeFi’s huge demand among the current bear market. Deferred financial platforms (DeFi) such as AAVE and Synthetix have seen an increase in payments paid over the past seven days, while their native tokens, and others such as Compound (COMP) have also increased in price.


According to data from Crypto Fees, traders at Uniswap calculated a total of approximately $ 4.87 million in cash between June 15 and June 21, exceeding the average revenue from Ethereum users estimated at $ 4.58 million.


Uniswap's highly developed V3 protocol (based on the Ethereum mainnet) accounts for the largest 4.4 million dollars in revenue, while the V2 variant also offers a significant $ 336,556.


During this time, the total cost of Ethereum exceeds that of Uniswap in two to seven days. In terms of the highest day of revenue generated, Uniswap exited $ 8.36 million on June 15, beating Ethereum on the same day at $ 7.99 million.


Uniswap enables peer-to-peer (P2P) exchanges for Ethereum-based tokens without having a central authority to facilitate trading. This is accomplished through smart automated contracts. Under the Uniswap payment structure, payments are made by traders to financiers who receive 100% of the cost at DEX.



Considering that Ethereum is home to the blockchain in much of DeFi, and is known for its costly architecture, a DEX-like UnXD-like DEX that hits the blockchain in payments over a week is noteworthy.


According to data from CoinGecko, UNI has released 17.4% in the last seven days to stay at $ 5.18 at the time of writing. The recent acquisition of NFT market compiler Genie and the appointment of former New York Stock Exchange president Stacey Cunningham as a consultant at Uniswap Labs may have contributed to this.


DeFi switch

Uniswap is not the only platform to see an increase in its cost and the recent token price, as the data also shows the strong demand for investors for several DeFi platforms despite the current bear market.


AAVE borrowing protocol and Synthetix derivative trading platform are mainly ranked third and fifth in terms of payments over the past seven days at $ 981,883 and $ 600,214 each.


Like Uniswap, AAVE saw an increase in costs on June 15, as its total increased by 69% to $ 1.44 million. Its native token AAVE has also pumped 22% since then.


The rise of Sythentix has been significant. The forum saw a dramatic increase in 928% payloads between June 11 and June 13 as the figure rose to $ 843,297. The total cost dropped to about $ 400,000 on June 17, before adding another 150% to nearly $ 1 million on June 19.


The boom can also be seen by looking at the traditional Synthetix SNX property, its price gained 105% from June 19 to stay at $ 3.08 at the time of writing. The main reason for this is seen in Synthetix Improvement Proposal 120 which started live last week which enables users to "trade atom without charge" and thus increase trading speed.


To strengthen the trend, however, Compound borrowing fees have been declining since April, and averaged just seven days of $ 11,753 last week, although its native COMP token increased by 16.7% over that period to remain at $ 40.50.

Source: cointelegraph




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