Crypto:
32522
Bitcoin:
$95.025
% 2.19
BTC Dominance:
%55.8
% 0.22
Market Cap:
$3.44 T
% 0.50
Fear & Greed:
81 / 100
Bitcoin:
$ 95.025
BTC Dominance:
% 55.8
Market Cap:
$3.44 T

Uniswap Achieves Record Monthly Volume

Uniswap

Uniswap recorded a $38 billion trading volume across Ethereum Layer-2 (L2) networks in November, breaking its previous record. According to Dune Analytics, this volume includes major networks like Base, Arbitrum, Polygon, and Optimism. The record set in March at $34 billion was surpassed this month by an additional $4 billion.

Henrik Andersson, the investment director at Apollo Crypto, linked this surge to increasing demand for assets and stablecoins within the DeFi ecosystem. He highlighted that the rise in the ETH/BTC ratio and growing on-chain yields contributed to this momentum. Additionally, Andersson noted that when Bitcoin approaches the $100,000 threshold, Ethereum and DeFi tokens typically show increased activity.

Uniswap’s Leading Networks

  • Arbitrum: Leads with a trading volume of $19.5 billion.
  • Base: Follows with $13 billion.

Uniswap also collected $90 million in fees during November, outperforming protocols like Pump.fun and Tron.

Uniswap

UNI Token Gains Strength

Uniswap’s native token, UNI, surged by 42% in the past week, reflecting the protocol’s heightened activity. Currently trading at $12.58, UNI outperformed decentralized exchange tokens like Raydium (-2.2%) and Jupiter (7.7%).

This record-breaking volume signals the potential for the Ethereum ecosystem to enter a long-awaited growth phase. Rising DeFi interest, increased stablecoin usage, and higher on-chain yields point to a promising future for the ecosystem.


You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

Rate this post
READ:  US Unemployment Claims Data Released - September 12, 2024 Bitcoin Analysis

Leave a Reply

Your email address will not be published. Required fields are marked *