Ethereum-based decentralized finance (DeFi) protocol Uniswap announced a new milestone on Tuesday, noting that it has crossed $1 trillion in trading volume in less than four years since it was launched.
Uniswap Crosses $1 Trillion in Trading Volume
Uniswap announced the development on Twitter while sharing some of the achievements that led to the new milestone.
According to blockchain analytics platform Dune, Uniswap currently has over four million users since its launch in November 2018, ranking it as the largest DeFi protocol by userbase.
The Ethereum-based protocol also noted that it has garnered the largest number of users across decentralized exchanges (DEX), as a result of its ability to lower “the barrier to liquidity provision.”
Sharing the milestone on Twitter, Uniswap founder Hayden Adams, said:
UNI Down 88% From ATH
With the crypto winter now in full force, thanks to the recent Terra fiasco, UNI, the native cryptocurrency of Uniswap, is down more than 88% from its all-time high (ATH) price. The crypto asset hit an ATH of $44.97 in May 2021, but at the time of writing, UNI was trading at $5.41.
Despite the latest milestone from the project, users seem more concerned about the price of UNI, with some pleading that the developers make the token more useful.
Source: https://coinfomania.com/uniswap-1-trillion-trade-volume/#utm_source=rss&%23038;utm_medium=rss&%23038;utm_campaign=uniswap-1-trillion-trade-volume