By daily trading volume, the decentralized exchange Uniswap surpassed Gemini, Poloniex and Binance US combined, reaching one third of Coinbase’s turnover. The information was reported by entrepreneur and trader Qiao Wang.
Uniswap did $126M volume last 24 hours. This is 1/3 of Coinbase. 1/2 of Kraken. More than Gemini, Polo, and Binance US combined.
Pretty incredible TBH.
— Qiao Wang (@QWQiao) July 31, 2020
The daily trading volume on the exchange surpassed $123 million. This is 52% of the total turnover of decentralized platforms, according to Dune Analytics.
Fifty-three percent of Uniswap’s volume comes from two tokens: Antiample and Ampleforth. The former rose 229% in the last 24 hours, while Ampleforth fell 65% over the week, according to CoinGecko.
Total trading volume on decentralized exchanges rose 67% over the week.
Source: Dune Analytics.
Wang noted that the rise in trading volumes signals a growing popularity of decentralized exchanges. He added that the number of users of such exchanges is already comparable to the number of people trading on centralized platforms.
Earlier in July, Uniswap was flooded with fake tokens from well-known projects, a consequence of lax listing practices on the exchange.
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