Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: EAA-ALLAH on May 29, 2021, 07:59:45 PM
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Decentralized exchange Uniswap successfully launched version 3 of its platform in May — resulting in high trade volumes despite a downturn across the cryptocurrency markets.
The latest version of the hugely popular decentralized finance (DeFi) automated market maker (AMM) has quickly attracted a sizable amount of trade volume, seeing it move into the top five decentralized exchanges alongside Sushiswap, PancakeSwap v2 and its predecessor, Uniswap v2.
The success of v3 cannot be understated, as the cryptocurrency space has been under pressure due to a market correction in May that has cast shadows over what has been the most prolific bull run that the space has seen.
Uniswap v3 is now the leading dex in terms of trading volume, recording an average of $1.2 billion in daily transaction volume, while Uniswap v2, which was leading until very recently, currently processes just under $1 billion in 24-hour transaction value.
Furthermore, a number of fellow DeFi tokens led a rally in the markets after last week’s tumultuous correction, which has since been dubbed the biggest capitulation in the cryptocurrency markets. However, the overall market saw a $400 billion increase in value shortly after as several altcoins surged, with Maker’s MKR token gaining 91% and Yearn.finance’s YFI seeing a 72% increase. The native token of the Uniswap exchange, UNI, and AAVE also saw significant increases in value.
As a result, some analysts believe that Uniswap v3 could see increased use by liquidity providers and retail users given its improved functionality. But what changed, and is it ready to replace the previous version? Source (https://cryptonews.net/720251/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)