The post Uniswap dominates trading volume, boosted by the Ethereum ecosystem and new L2 chains like Base appeared on BitcoinEthereumNews.com.

Uniswap has now shown a shift in traffic, with significant growth coming from Base users. Adding smart wallets and lower fees means Uniswap is now more accessible to retail traders. Uniswap is present on Ethereum and the top L2 scaling blockchains, with inflows of users, stablecoins, and ERC-20 tokens. Recently, a shift in user profiles has happened. Monthly active users from Base accounted for a much larger share, with a growth trend from the past months.  Read: Uniswap price prediction 2024-2030: Will UNI keep steady? Uniswap MAUs by chain (market share view): pic.twitter.com/Qd4Rf3e6pT — Token Terminal (@tokenterminal) June 20, 2024 The inclusion of Base is growing Uniswap’s overall market share, contributing to the recovery of DEX trading. Decentralized exchanges registered 10M monthly active users, supported by bot activity.  Uniswap dominates trading volume, boosted by the Ethereum ecosystem and new L2 chains like Base. Source: TokenTerminal Uniswap is also a leader in fees, except for the Aerodrome DEX, its close competitor also represented on the Base blockchain. Aerodrome is also the more efficient DEX in terms of revenues.  Uniswap Labs logs between $200K and $400K daily earnings. The results are based on up to 460K active daily wallets communicating with the exchange. Uniswap also leads in terms of direct deposits.  The exchange faces competition for riskier trades and specialized protocols, but remains the most widely used swap service. Except for the Solana ecosystem and Raydium DEX, Uniswap was the go-to listing facility for multiple tokens.  Uniswap is also experiencing a boom in new liquidity pool launches, some with deposits as low as 1 ETH. Most of the pairings are against various forms of WETH and are extremely volatile.  Despite the positive developments, UNI trades at $9.80, still 50% down from its yearly peak. The token gained more than 100% in the…

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Filed under: News - @ June 22, 2024 3:24 am