On March 17 news, Uniswap founder Hayden Adams reposted a tweet about “DEX 7-day trading volume”, saying that Uniswap still accounts for about 60% of trading volume, which is close to the highest level in history. It has been 3 months since the end of UNI liquidity mining, so this is the result of actual adoption. In addition, I heard that a new and improved version of the Uniswap protocol will be released soon.
In fact, as early as March 4, the founder of YFI speculated that Uniswap had new actions or announced major progress through the frequency of tweets. YFI founder Andre Cronje said that when founders or core contributors start to post more actively on Twitter, it usually means that the project has made a big progress and is waiting for release. This is a “transition period.” AndreCronje said he has noticed that the frequency of Uniswap founder Hayden Adams’s posting is increasing.
After the news that the new version is about to be released, data show that as of 10:26 am on March 17, UNI’s short-term rise to 30.93 US dollars, an intraday increase of 7%.
At the same time, data from OKLink of Oukeyunchain shows that as of 10 o’clock today, the 24-hour transaction volume of Dex on Ethereum is approximately US$1.8 billion. Among them, the top three Dex agreements in terms of transaction volume are Uniswap V2, which is US$970 million, accounting for 54% of transaction volume; SushiSwap is US$222 million, accounting for 12.39% of transaction volume, and Curve is US$146 million, representing 8.16% of transaction volume.
At the same time, on March 17, the decentralized lending agreement Aave (AAVE) also announced the launch of the AMM market (AMMMarket), allowing Uniswap and Balancer liquidity providers (LP) to use their LP tokens as collateral for the Aave protocol .
It is worth mentioning that Uniswap has been in a trend of steady growth since its release. According to the data collected by TheBlock, the Decentralized Exchange (DEX) recorded the highest monthly trading volume ever recorded in February. The monthly transaction volume in February reached approximately US$72.89 billion, an increase of US$12 billion from January. Uniswap continues to be a leader in the DEX field, with a trading volume of 36.6 billion U.S. dollars in February, marking the third consecutive month that the exchange’s trading volume exceeded 30 billion U.S. dollars.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.