The decentralized Uniswap stock exchange set a new record for weekly volume on Tuesday, with cumulative transaction volume exceeding $ 10 billion amid an ongoing decentralized economic boom.
CEO Hayden Adams tweeted about the incident on Tuesday with an accompanying graph showing weekly volume growth of 25.7%. If Uniswap manages to maintain its current pace, it will process more than $ 500 billion in transactions annually.
According to CoinGecko, Uniswap’s 24-hour trading volume is estimated at approximately $ 1.9 billion. PancakeSwap and Mdex are said to have processed more than $ 3 billion in transactions in the same 24-hour period.
Uniswap is a popular platform for investors who want to access new and new DeFi investments and other so-called hidden cryptocurrencies that are not yet available on major central exchanges such as Coinbase, Kraken or even Binance. The retrospective donation of 400 UNI icons has contributed to the platform’s appeal over the past six months. These 400 tokens are now valued at $ 12,000 based on the current UNI award.
The decentralized stock exchange reached a major milestone in February when the cumulative trading volume exceeded $ 100 billion for the first time. As Cointelegraph reported at the time, Uniswap’s sharp rally since mid-2020 was a reflection of Defi’s first beef market.
According to the latest industry data, approximately $ 112 billion has been booked in DeFi projects. The total book value exceeded $ 123 billion last week before a drastic market correction that wiped out more than $ 300 billion of the total cryptocurrency value.