A dramatic spike in yield farming activity associated with SushiSwap and similar protocols has seen Uniswap become the first decentralized exchange (DEX) to exceed $1 billion in 24-hour trade volume.
According to crypto data aggregator CoinGecko, Uniswap V2 is currently the third-largest exchange by normalized trade volume with $1.02 billion worth of ERC-20 tokens changing hands over the past day.
CoinGecko ranks Uniswap below only Binance and OKEx, who represent $6.25 billion and $1.10 billion in daily trade respectively. The decentralized exchange is now beating out major centralized platforms like Coinbase Pro, Huobi Global, and Bitfinex.
The boom in yield farming has also seen Uniswap suddenly emerge as the top decentralized finance (DeFi) protocol by locked funds with $1.69 billion — representing 18.05% of the total value locked in the sector’s smart contracts according to DeFi Pulse.
A dramatic spike in yield farming activity associated with SushiSwap and similar protocols has seen Uniswap become the first decentralized exchange (DEX) to exceed $1 billion in 24-hour trade volume.
According to crypto data aggregator CoinGecko, Uniswap V2 is currently the third-largest exchange by normalized trade volume with $1.02 billion worth of ERC-20 tokens changing hands over the past day.
CoinGecko ranks Uniswap below only Binance and OKEx, who represent $6.25 billion and $1.10 billion in daily trade respectively. The decentralized exchange is now beating out major centralized platforms like Coinbase Pro, Huobi Global, and Bitfinex.
The boom in yield farming has also seen Uniswap suddenly emerge as the top decentralized finance (DeFi) protocol by locked funds with $1.69 billion — representing 18.05% of the total value locked in the sector’s smart contracts according to DeFi Pulse.