Thanks to transactions between Uniswap, Stablecoins and Ethereum, it can reach $ 1 billion in daily trade volume.
Uniswap, the leading decentralized exchange and DEX platform, continues to be the pioneer of its sector while approaching an average daily transaction volume of $ 1 billion in January.
Two-thirds of January have passed, and the platform has already surpassed the previous monthly trade volume record of $ 15.3 billion set during DeFi transactions in September.
The DEX has surpassed $ 17 billion as of today and is moving forward with an average daily trade of $ 855 million at the end of January. With this progress, it is on the way to exceed its monthly trade volume of 25 billion dollars.
Uniswap investors have a hard time choosing among 1,558 coins traded in more than 2,400 pairs, but most prefer less risky trades. Trading against ETH among stablecoins such as Tether, USDC and DAI accounted for about 45 percent of the $ 1.1 billion traded in the past 24 hours.
Uniswap founder Hayden Adams, in a statement on December 15, asked the community about the platform’s over $ 50 billion in all-time trading volume and when it will reach $ 1 trillion. 50 percent of the community respondents said this will happen in 2021.
The DEX platform currently stands at approximately $ 70 billion in all-time trading volume and needs an average of $ 2.7 billion each day to reach $ 1 trillion by the end of the year.
Uniswap strategy leader Matteo Leibowitz said about the trade volume:
“$ 1 billion daily volume is the new normal.”
When we examine the DEXs in general, they are in a serious growth trajectory, increasing by approximately 112 percent in the last 30 days. The total volume traded in the last 30 days reached 43.3 billion dollars, adding approximately $ 1.5 billion each day.
SushiSwap is the next strongest DEX with a trading volume of $ 8.2 billion in January and has already doubled from its previous high of $ 3 billion in December last year.