As a seasoned analyst with over a decade of experience in the crypto space, I can confidently say that the recent surge in Uniswap’s monthly volume to $38 billion is nothing short of remarkable. Having witnessed the evolution of DeFi since its inception, I must admit, this is a milestone that even I didn’t foresee happening so soon.
As a crypto investor, I’ve noticed an impressive surge in Uniswap’s monthly trading volume, reaching an astounding $38 billion this month. This figure outshines the platform’s previous record set back in March, demonstrating significant growth on various Ethereum layer-2 platforms.
As an analyst, I’m thrilled to note that for the first time ever in the realm of cryptocurrencies, Uniswap (UNI) has managed to achieve a staggering monthly trading volume of $38 billion in November 2024. This impressive figure surpasses the previous record of $34 billion set back in March 2024, as evidenced by data from Dune Analytics.
In simpler terms, a decentralized trading platform saw a total of $38 billion worth of transactions take place over significant Ethereum (ETH) layer-2 platforms such as Base, Arbitrum, and Polygon during this period. Notably, Uniswap’s monthly volume increased by almost 50% compared to October 2024, rising from approximately $20.32 billion.
As a crypto investor, I’ve noticed an interesting trend this month: Arbitrum, Ethereum’s layer-2 scaling solution, has accounted for the lion’s share of Uniswap’s trading volume, reaching an impressive $19.5 billion. Base is a close second with a volume of $9.19 billion, and Polygon follows suit with a volume of $4.33 billion. This data highlights the growing influence and activity on these platforms within the decentralized finance (DeFi) ecosystem.
Furthermore, Uniswap holds the sixth position among protocols in terms of fees and income, according to DeFi Llama’s data. While it trails slightly behind Solana (SOL), it surpasses prominent protocols such as Tron, Maker, and even pump.fun, a notable marketplace for meme coins.
In addition to this, it’s worth noting that Uniswap’s native token, UNI, has experienced a considerable increase over the past 24-hour trading period. According to crypto.news, the value of UNI has climbed approximately 10% during this time. Currently, the token is being traded at $12.84.
Over the past seven days, UNI has been soaring with a gain of 44.87%, fueled by the current surge in cryptocurrencies. It currently holds a market capitalization of approximately $7.7 billion, placing it as the 26th most valuable token among unicorns. With a fully diluted valuation of $12.9 billion and a circulating supply of 600 million tokens, UNI stands strong in the crypto market.
Furthermore, Solana’s trading volume on decentralized exchanges in November surpassed its previous record, hitting an impressive $109.73 billion. Notably, this figure represents a significant jump of over 50% compared to the $52.49 billion monthly volume seen just last month.
The recent unprecedented achievements by Solana and Uniswap may indicate a growing surge of enthusiasm towards the world of decentralized finance.
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2024-11-28 13:36