Uniswap’s dominance over the Ethereum DEX sector continues to grow, with the stock market representing more than half of the industry’s total weekly volume.
The amount of collateral in decentralized exchanges is approaching a $ 10 billion milestone while Uniswap is still at the top.
Volumes and liquidity in decentralized exchanges increased in 2021, and collateral approached a $ 10 billion milestone, according to Messari’s research.
Investigator Rahul Rai noted that the February DEX volume rose to $ 72 billion. Dappradar reported that more than half of Uniswap’s total liquidity was locked in DEXs with TVL of $ 5.4 billion.
He added that despite their success, automated market makers faced their own challenges.
According to Dune Analytics, Uniswap’s dominance over the Ethereum-powered DEX sector is growing, and the exchange is hosting about $ 6.5 billion worth of trade weekly, or 62.2% of the total trade between Ethereum DEXs.
Rival DEX SushiSwap, which emerged as a Uniswap fork in late August 2020 and has big plans for 2021, ranks second in volume, which accounts for $ 1.6 billion per week, or 15.2% of the industry’s total trade.
Curve Finance ranks third in terms of market share with 6.2% and has been hosting $ 647 million in trade in the last seven days.