Thursday, October 6, 2022
HomeDeFi NewsUniswap exceeds US$500 billion in traded volume since its launch

Uniswap exceeds US$500 billion in traded volume since its launch

One of the best-known decentralized exchanges in the cryptocurrency market has just passed the US$500 billion transacted mark.

Volume traded on Uniswap

“We’re proud of the magnitude of this number, but we’re even happier knowing that millions of users have had direct access to markets they could trust were operating in their best interest.” – stated Uniswap Labs on Twitter.

About 2 billion of this volume was thanks to two scalability solutions integrated into the project:

“⚡️ $2 billion of this volume was contributed by @arbitrum and @optimismPBC deployments, which are starting to see significant traction!” – said Uniswap Labs.

Uniswap was created in November 2018, but it was conceived in 2016 by Vitalik Buterin (creator of Ethereum). With support from the Ethereum Foundation, programmer Hayden Adams made the idea come true.

Since then, the broker has not stopped growing and its UNI token is already worth 14.35 billion dollars.

With Uniswap, anyone can be an arbitrator between tokens using the blockchain, which narrows the price gap in small markets and gives incentives to balance asset prices using blockchain and centralized brokerages.

Currently, UNI is traded in several brokers in EEUU and around the world, such as Coinbase, Bitfinex and Binance US.

“We are so grateful to be together on this journey with our incredible community, and we can’t wait to hit the $1tn mark.”

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