Uniswap Decentralized Exchange Trading Volumes Exceeded $ 500 Million

Trading volumes on the Uniswap decentralized exchange continue to grow – on August 30 they exceeded $ 500 million, and this is significantly more than the same indicator on the traditional cryptocurrency exchange Coinbase Pro.

According to the internal monitoring of Uniswap, on August 30, transactions worth $ 502.89 million were made on the platform.According to CoinMarketCap, on the Coinbase Pro exchange on the same day, the trading volume was only $ 394.9 million. Although these sites are still far from the trading volumes of the leading cryptocurrency exchange Binance – on Binance, this figure exceeds $ 6.5 billion.

The growth in trading volumes on the Uniswap exchange is associated with the growing popularity of the decentralized finance (DeFi) industry, as well as the ERC-20 tokens. However, analysts believe that the popularity of DeFi project tokens will soon decline.

Recently, the CEO of the BitMEX cryptocurrency derivatives exchange, Arthur Hayes , said that the “DeFi fever” hit him, and he invested in tokens of decentralized projects.

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