Decentralized exchange Uniswap has surpassed Gemini, Poloniex and Binance US combined in daily trading volume, reaching a third of Coinbase’s turnover, according to 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.— Qiao Wang (@QWQiao) July 31, 2020
Pretty incredible TBH.
The daily trading volume on Uniswap has exceeded $123 million, which accounts for 52% of the total turnover of decentralized platforms, according to Dune Analytics.
As much as 53% of the total trade volume on Uniswap comes from two tokens: Antiample and Ampleforth. The first is up 229% in value over the past 24 hours, while Ampleforth has lost 65% in a week, according to CoinGecko.
The total trading volume on decentralized exchanges increased by 67% over the week.
Qiao noted that the increase in trading volumes indicates the growing popularity of decentralized exchange platforms for cryptocurrencies. He added that the number of users of such exchanges is already comparable to the number of people trading on centralized platforms.
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