- Uniswap total liquidity to reach $3 billion soon
- Uniswap enjoys the majority share of all transactions on ETH
- DeFi industry holds more prospect for users
Users of the Uniswap token have close to 3.5 million Ethereum locked on the exchange. With Uniswap total liquidity rising as high as $3 billion.
Uniswap total liquidity almost at $3 billion
Since Uniswap was launched in July, it has been the most widely used DeFi exchange, with different reports showing that users have locked Ethereum tokens worth over $1 billion on Uniswap.
It appears that Uniswap has enjoyed the most patronage ever since the DeFi industry hit a green patch, which made many investors flock to the platform.
Uniswap, undoubtedly, also gets most, if not all, its liquidity from Ethereum. Data has shown that out of the $300 million worth of Ethereum that are being transferred to DeFi network platforms, most of it goes directly to Uniswap.
This has played a major role in the massive inflow being recorded by the high flying exchange, which has made Uniswap total liquidity hit the $3 billion mark.
Should Uniswap and DeFi be taken seriously?
Flipside had reported how many Bitcoin enthusiasts and maximalists had looked and treated the DeFi industry and Uniswap users and holders with scorn and some level of denigration.
However, Bitcoin holders with this view are better advised to rethink this view. Many other BTC users are now using the Ethereum platform’s blockchain to put their hitherto Bitcoin stash into use, which they feel would be more rewarding and profitable.
In fact, according to Dune Analytics, there are over a hundred thousand tokenized bitcoins currently making their way around Ethereum. If this were converted to dollars, this would be a supply value worth over $1.5 billion.