On Sunday, March 28, the amount of trading fees generated by the decentralised exchange Uniswap reached $4.8 million. The figure was one and a half times the fees paid on the Bitcoin network, according to Cryptofees.info.
Over seven days, the non-custodial trading platform trailed the blockchain of the first cryptocurrency on average — $3.49 million versus $4.15 million.
In the fee-payout ranking, Uniswap sits second to Ethereum. The decentralised exchange’s figure reached 29% of the levels recorded on the blockchain of the second-largest cryptocurrency by market cap.
According to ETH Gas Station, Uniswap is the leader in gas consumption on the Ethereum network. Over the last 30 days, users spent, on average per day, a total of $2 million, versus $1.65 million when making USDT transactions.
On March 28, the average transaction fee fell to $13.8.
Median gas price over the last 24 hours ranged from 85 to 188 Gwei, according to Dune Analytics.
At the time of writing, the cost to swap tokens on Uniswap had fallen to $20.73.
High transaction-fee costs have driven migration of some users from Ethereum to Binance Smart Chain. In early March, by value locked, the DeFi platform PancakeSwap surpassed Uniswap.
Case: Binance Smart Chain — why users choose low fees over decentralisation
The Uniswap team announced the third version of the protocol, set to launch on May 5. Among the features are a three-tier fee structure for liquidity providers and the rollout of the second-layer Optimism.
Earlier, this developer delayed the launch of Optimistic Ethereum from March to July.
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