- The leading DEX recently recorded an all-time volume of over $50 billion, showing increased crypto trading in the DeFi space.
- The exchange’s TVL currently sits around $1.37 billion, according to DeFi Pulse.
The decentralized finance (DeFi) industry in general, gained lots of traction in recent months, following the launch of different protocols, and the yield farming concept, more especially. During these times, the leading decentralized exchange (DEX), Uniswap, posted a notable growth in trading volume, surpassing some popular centralized exchange (CEX) like Coinbase in daily trading volume.
In a recent tweet, the founder of the decentralized exchange, Hayden Adams confirmed yet another milestone in Uniswap trading volume.
Uniswap volume surpasses $50 billion
As Adams tweeted, the decentralized exchange gained $51,684,721,507 last week. The new all-time volume further strengthens the exchange’s position as the largest decentralized exchange. The trading volume was garnered from the 26,000 unique trading pairs available on the exchange. The DEX “just need to do this 19 more times to hit 1 trillion,” the protocol’s founder noted.
Many people believe that the exchange will record $1 trillion in volume in the next year, following a recent poll conducted by the founder. The quick survey attracted about 1,333 votes. About 48.8 percent of respondents think the $1 trillion volume will be recorded in 2021, 22 percent for 2022, and 14 percent for 2023. Meanwhile, 12.2 percent maintained that the leaving decentralized would not see such a trading volume any time soon.
The DEX lost out as the top DeFi protocol when its liquidity reward program ended. A significant amount of the assets locked on the exchange was moved, while some went to other platforms like SushiSwap. Consequently, the exchange dropped to the fifth-largest protocol on DeFi Pulse and has remained in that position till today. At the time of writing, the total value of assets locked on the exchange totaled $1.37 billion.