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The DEX Uniswap has surpassed Coinbase in trading volume


Uniswap vs Coinbase: who wins?

Yesterday, the DEX outperformed the CEX in terms of trading volume for the last 24 hours.

This was revealed On twitter by Hayden Adams, Ethereum developer and inventor of the Uniswap Protocol, who revealed that the trading volume on Uniswap in the last 24 hours was $ 426 million, while on Coinbase it would have stopped at $ 348 million.

In the next 24 hours, according to CoinGecko, the trading volume on Coinbase had risen to $ 419 million, but the trading volumes on Uniswap had exceeded $ 576 million.

Since the existence of decentralized exchanges like Uniswap, there has always been talk of very limited trading volumes.

However, yesterday's overtaking likely marks a trend reversal, with the major DEX finally entering the limited circle of cryptocurrency exchanges exceeding $ 100 million in daily volume.

According to data published on CoinGecko, in the last 24 hours, the exchange with the highest trading volumes has been the centralized exchange Binance, with more than $ 3.7 billion, followed by DEX Uniswap with 574 million dollars.

Third, there was the centralized exchange of Coinbase with 419 million.

Other centralized exchanges followed, such as Kraken and KuCoin, but in sixth place, there would be another DEX, Aave, with 172 million dollars.

Since mid-August, there has been a real increase in the use of instruments DeFi Like the DEXSo much so that, for example, Uniswap has seen the volume of locked funds literally skyrocket from $ 285 million to nearly $ 1 billion in about two weeks.

Although Aave has gone from 529 million to more than 1.6 billion dollars, so much so that it has surpassed Maker and has become the DeFi protocol with the highest volume of blocked assets.

It has been assumed for at least a couple of years that DEXs would succeed sooner or later as they are custodialless, have no limitations of any kind, and can be used anonymously.

Uniswap and Aave finally managed to get to at least where they were supposed to be, that is, alongside the large centralized exchanges.

Now it remains to be seen if this growth will continue or if it is just a temporary bubble.

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