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As per the data released by Dune Analytics, the all-time traded volume of the primary decentralized exchange Uniswap crossed a hundred billion USD. Uniswap reached the 100 Billion USD milestone on Monday in the wake of the DeFi boom.
The CEO of Uniswap, Hayden Adams tweeted that the platform became the 1st DEX to process more than hundred billion USD worth of transactions. Using data from Dune Analytics, Adams presented collective volumes of over hundred billion dollars, as of Monday. The data highlighted Uniswap’s dramatic development since last year when the first DeFi bull market started.
The decentralized exchange has processed more than 1 billion USD worth of transactions in the past twenty-four hours, as per CoinGecko. The metric places it among the biggest exchanges for digital asset trading.
It is to be noted that the decentralized exchanges have seen their volumes surge significantly over the last 8 months. They now threaten centralized-exchange supremacy due to the swift acceptance of DeFi governance tokens.
Nevertheless, the expansion in trading activity has come at a cost. As Ethereum-based decentralized exchanges and on-chain transactions are continuously increasing, the transaction fees are also skyrocketing. During top overload periods, transactions on the exchange can cost more than hundred USD.
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