DeFi Flippening Comes to Exchanges as Uniswap Topples Coinbase in Trading Volume

[Galaxy]

Trading volumes are surging on Uniswap and other so-called decentralized cryptocurrency exchanges, challenging established venues like Coinbase while driving up fees and congestion on the Ethereum blockchain.   

Uniswap, a semi-automated platform for matching buyers and sellers of cryptocurrencies and other digital assets, saw its trading volume climb to $953.59 million on Tuesday, a more than ten-fold gain over the past month, according to the website uniswap.info. The 24-hour trading volume has crossed above $1 billion – at least 50% higher than daily trading volumes observed on Coinbase Pro, the largest U.S.-based centralized cryptocurrency exchange.
Info Link: https://www.coindesk.com/defi-flippening-uniswap-topples-coinbase-trading-volume

[highnayem34]

Uniswap’s usage has grown so rapidly that it’s taken over the top spot among fee payers on the Ethereum network, where most of the DeFi development is taking place. The total value locked in the DeFi applications, the most common metric for measuring the activity, has increased 13-fold this year to about $9.2 billion, according to the data-tracking website Defi Pulse.