Uniswap’s August Volume Topples July $1.76B Record in Less Than Two Weeks
Uniswap reported more than $1.76 billion in monthly volume as of Wednesday.
Strong trading incentives have “cannibalized volume” from other DEXs, said one analyst.
The exchange now supports nearly 10 times more pairs than Binance.
A steeper decline was avoided by one record day for Uniswap and Curve.
Trading volumes are surging on Uniswap and other so-called decentralized cryptocurrency exchanges, challenging established venues like Coinbase.
Only two decentralized exchange protocols reported a drop in volume during August.