Uniswap's turnover exceeded the combined figures of Gemini, Poloniex and Binance US

31.07.2020 12:51
The decentralized exchange Uniswap surpassed Gemini, Poloniex and Binance US combined in terms of trading volume, reaching a third of Coinbase's turnover. This was reported by entrepreneur and trader Qiao Wang.

Uniswap did $126M volume last 24 hours. This is 1/3 of Coinbase. 1/2 of Kraken. More than Gemini, Polo, and Binance US combined.

Pretty incredible TBH.

— Qiao Wang (@QWQiao) July 31, 2020
Daily trading volume on the trading platform exceeded $123 million. This is 52% of the total turnover of decentralized platforms, according to Dune Analytics.

53% of the volume on Uniswap is accounted for by two tokens: Antiample and Ampleforth. The former has increased in price by 229% over the past day, while Ampleforth has lost 65% over the week, according to CoinGecko.

The total trading volume on decentralized exchanges increased by 67% over the week.

Qiao noted that the increase in trading volumes indicates the growing popularity of decentralized cryptocurrency exchange platforms. He added that the number of users of such exchanges is already comparable to the number of people trading on centralized platforms.

Recall that in early July, Uniswap was flooded with fake tokens of well-known projects. The reason for this was the free practice of listing on the exchange.

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