Decentralized exchange Uniswap surpassed Gemini, Poloniex, and Binance US combined in daily trading volume, reaching a third of Coinbase’s turnover. This was announced by the 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
The daily trading volume on the marketplace exceeded $ 123 million. This is 52% of the total turnover of decentralized platforms, according to Dune Analytics.
53% of the volume on Uniswap comes from two tokens: Antiample and Ampleforth. The first has risen up 229% in value over the past 24 hours, while Ampleforth has lost 65% in a 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 exchange platforms for cryptocurrencies. 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 practice of free listing on the exchange.