The post Uniswap L2 activity in September tripled compared to last year appeared on BitcoinEthereumNews.com.

Uniswap is growing its presence on L2 chains, despite fears of a slowdown in September. The past 12 months marked a switch to L2 due to the demand for more favorable fees.  Uniswap V3 increased its presence on L2 chains in the past 12 months. For September, the leading DEX marked triple the volumes compared to the same month last year. Uniswap carried $11.68B in swaps, compared to $4.29B for September 2023.  During that time, Uniswap expanded its presence to a total of 23 chains. The dominant ones continue to be Base and Arbitrum, due to low fees and active marketing. Soon after its launch, Base started displacing liquidity pools for Ethereum, mostly due to the creation of meme tokens.  Uniswap had a successful year on L2 chains. | Source: Dune Analytics As a result of the DEX liveliness, Uniswap reached $43.28M in monthly fees. While Uniswap saw a slowdown in September, the last few months were the most successful in the history of the DEX. The rapid inflow of users on Base turned Uniswap into the leader for meme token swaps.  The past year also saw Uniswap expand on the Celo protocol. Celo is still an L1 but may transform into an L2 to better align with the culture of Ethereum (ETH).  Uniswap’s growth on L2 reached more than 20X since 2021. For 2024, Uniswap will have to break its own record of $192B in annual trades. At the same time, Ethereum remains the layer that still carries $3.72B in value locked, due to legacy pools and pairs. Ethereum is still the biggest source of stablecoins, despite the inflows of USDT into Arbitrum and other L2.   Arbitrum leads in volumes, but Base has the most pools Uniswap’s success hinges on carrying both large-scale volumes and multiple small pools. Arbitrum…

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Filed under: News - @ September 25, 2024 8:26 pm