The post Uniswap and Raydium the only DeFi apps to see inflow of new users appeared on BitcoinEthereumNews.com.

The past month saw expansion of DEXs trading, driven both by bots and human orders chasing the hottest meme tokens. As most coins and tokens recovered, funds flowed into top Ethereum and Solana DEXs. Uniswap and Raydium are the apps to show an inflow of new users in July, while other decentralized hubs still relied on returning users. All DeFi protocols showed expanding activity, but the top Ethereum and Solana exchanges saw the biggest inflow of first-time users.  Uniswap is stable in terms of value locked, carrying $4.64B on Ethereum, and on smaller pools from more than 10 other blockchains. Raydium is solely relying on Solana and the new generation of meme tokens. The Raydium DEX still has around $1.22B in value locked, after SOL price growth in July.  The success of Raydium also hinges on the performance of Solana (SOL), which moved as high as $194 and serves as a reliable pair-forming asset. This brought 8.4M active users to the DEX for the past 30 days, with more than 600K daily active users. Raydium relies on high turnover, but is still ranked 127 among DeFi apps. 🏆 Top 15 DeFi Projects by 30D Active Users In the past 30 days, among the top 15 DeFi protocols, only Uniswap and Raydium have seen an influx of new active users. In contrast, other protocols have experienced a decline in user activity, enhancing Uniswap and Raydium’s dominance… pic.twitter.com/uTV9ruPZyJ — Filip Studios (@FilipStudios) July 30, 2024 Raydium and Uniswap produce up to $1.7M in daily fees In addition to a close number of reported users, Uniswap and Raydium are also generating similar trading fees. The two leading DEXs are gaining around $1.7M in daily fees, even surpassing TRON. Recently, other Solana-based protocols like JitoSOL surpassed even Bitcoin and Ethereum in terms of daily…

---

Filed under: News - @ July 31, 2024 6:36 pm