The Daily Chain
No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
No Result
View All Result
The Daily Chain
No Result
View All Result
Home All News

Uniswap 24 hour trading volume surpasses Coinbase

Gareth Jenkinson by Gareth Jenkinson
31st August 2020
2 min read
18
Uniswap 24 hour trading volume surpasses Coinbase

(Shutterstock)

0
SHARES
0
VIEWS
FacebookTwitterLinkedinTelegramEmailWhatsapp

Decentralized exchange platform Uniswap has hit an intriguing milestone after recording a higher 24 hour trading volume than America’s largest cryptocurrency exchange Coinbase.

Uniswap founder Hayden Adams made the observation on Twitter on Monday, highlighting Uniswap’s massive $426mln trading volume over the past 24 hours. The number was $78mln higher than Coinbase’s 24 hour trading volume of $348mln.

🤯 Wow, @UniswapProtocol 24hr trading volume is higher than @coinbase for the first time ever

🦄 Uniswap: $426M
🏦 Coinbase: $348M

Hard to express with how crazy this is. pic.twitter.com/48o0xRkiUo

— Hayden Adams 🦄 (@haydenzadams) August 30, 2020

What is Uniswap?

Uniswap has enjoyed immense success in 2020 among a surge in interest in the Decentralized Finance space. 

The platform itself is not a DeFi protocol, it’s what is known as an automated market maker, and it has established itself as one of the most used decentralized exchanges as a result of it’s liquidity provision services.

The Daily Chain has a full guide to the ins and outs of Uniswap for those wanting the nitty-gritty details of the platform. In short Uniswap is a decentralized protocol that automates the provision of liquidity on the Ethereum blockchain.

It essentially allows users to deposit various ERC-20 tokens on the platform which then forms part of liquidity pools that power the decentralized exchange. The exchange is managed by smart contracts that automatically balance liquidity across the different tokens on the exchange.

Liquidity Providers are incentivised to contribute to liquidity pools by receiving a percentage of trading fees made from the liquidity pool, and that is also proportionate to the amount of liquidity provided. Liquidity Providers receive Uniswap liquidity tokens that represent the value of your  deposit to the given pool.

Uniswap is popular for its ability for users to swap any ERC-20 token for another, there are no restrictions on trading pairs that we’ve been accustomed to on centralized exchanges. The protocol will use routing to complete swaps between ERC-20 tokens.

Uniswap raises $11mln in fundraising round

Uniswap announced that it had raised $11mln in a series A fundraising round at the beginning of August, with the proceeds earmarked to fund development of a version 3.0 of the decentralized exchange.

According to data from DeFiPulse over 1.23 million ETH is locked into the decentralized exchange.

Tags: AMMautomatic market makerERCERC20ETHEthereumUniswap
ShareTweetShareShareSendSend
Gareth Jenkinson

Gareth Jenkinson

Gareth is a radio presenter and an award-winning sports journalist based in Johannesburg, South Africa. Away from his love of all things sport, he’s been covering the cryptocurrency and blockchain space since 2017.

Related Posts

Ether Primed To Give Bitcoin a Run For Its Market Dominance
All News

Ether Primed To Give Bitcoin a Run For Its Market Dominance

21st January 2021
‘Crypto for Congress’ initiative to send $50 of BTC to US Congress members
All News

Proposed US crypto wallet laws on the back burner as Biden takes office

21st January 2021
sberbank-Stablecoin
All News

Stablecoin Coming Soon to Russian Banking giant Sberbank

21st January 2021
Former Ripple Board Member Barr Might Lead Biden’s OCC
All News

Former Ripple Board Member Barr Might Lead Biden’s OCC

21st January 2021
Ethereum 2.0 Validators Hit 66K as Analysts Track Its 2021 Progress
All News

Ethereum 2.0 Validators Hit 66K as Analysts Track Its 2021 Progress

21st January 2021
Binance-Russia
All News

Binance Website Removed from Blacklist in Russia after New Court Order

21st January 2021
Next Post
Craig Wright - Libel - suit

Craig Wright takes Roger Ver to court with a new Libel Suit

IRS Confirms Crypto Earned Via Microtasking as Taxable Income

IRS Confirms Crypto Earned Via Microtasking as Taxable Income

Please login to join discussion
  • All News
  • Editor's Picks

Ether Primed To Give Bitcoin a Run For Its Market Dominance

Proposed US crypto wallet laws on the back burner as Biden takes office

Stablecoin Coming Soon to Russian Banking giant Sberbank

Former Ripple Board Member Barr Might Lead Biden’s OCC

Ethereum 2.0 Validators Hit 66K as Analysts Track Its 2021 Progress

Join our newsletter!

Enter your email to receive our newsletter.


Don’t worry, we don’t spam
ADVERTISEMENT

Popular Posts

  • Prime Minister-Bitcoin-Canada

    Ex Canadian Prime Ministers says Bitcoin could be a Reserve Currency

    0 shares
    Share 0 Tweet 0
  • Reports – Iranian police seize 45,000 illegal Bitcoin miners

    0 shares
    Share 0 Tweet 0
  • Capital Manager: ETH Price Will Double Once Bulls Takes Out $1,400

    0 shares
    Share 0 Tweet 0
  • Ongoing BTC Consolidation Could Prove Incredibly Bullish For Altcoins

    0 shares
    Share 0 Tweet 0
  • BTC Price Struggles Below $38K, While ETH Bulls Take Control

    0 shares
    Share 0 Tweet 0

Market Updates

Ether Primed To Give Bitcoin a Run For Its Market Dominance

Ether Primed To Give Bitcoin a Run For Its Market Dominance

21st January 2021
ETH Surpasses Its 2018 Price Record to Set New ATH at $1,439

ETH Surpasses Its 2018 Price Record to Set New ATH at $1,439

19th January 2021
Ongoing BTC Consolidation Could Prove Incredibly Bullish For Altcoins

Ongoing BTC Consolidation Could Prove Incredibly Bullish For Altcoins

18th January 2021

Media

hashoshi-alts (2)

Altcoin Season Picks / Projects with Huge Potential

9th September 2020
cardano-ADA

Hashoshi: Cardano Shelley is live… but what’s next is WAY BIGGER

19th August 2020
hashoshi-alts

Hashoshi: Low Cap Alts you need to be watching in 2020

5th August 2020
fomohunt-podcast

FomoHunt Podcast – Joe Vezz & Jon Farjo: Tracking Social Sentiment Waves with Lunar Crush

30th July 2020
ethereum-hashoshi

Hashoshi: Ethereum 2.0, Chainlink, Bitcoin Price, and more!

27th July 2020
fomohunt-podcast

FomoHunt Podcast – Joe Roets: Behind the scenes of “Open source money”

24th July 2020
The Daily Chain

The Daily Chain is a news platform and educational hub founded in January 2019. We are dedicated to providing unique and informative daily content across all facets of the blockchain and cryptocurrency industry whether it be news, opinion pieces, technical analysis, reviews, interviews, podcasts and more.

LEARN MORE »

Recent Posts

  • Ether Primed To Give Bitcoin a Run For Its Market Dominance
  • Proposed US crypto wallet laws on the back burner as Biden takes office
  • Stablecoin Coming Soon to Russian Banking giant Sberbank
  • Former Ripple Board Member Barr Might Lead Biden’s OCC

Information

  • About
  • Contact
  • Site notice
  • Risk Warning
  • Privacy Policy

Categories

  • News
  • Markets
  • Features
  • Education
  • Media
  • Reviews

TheDailyChain © 2020. The Home of Digital Assets

No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List

TheDailyChain © 2020. The Home of Digital Assets

At The Daily Chain, we are committed to protecting the personal data of our audience.
In light of the General Data Protection Regulation, we are asking our audience in Europe to consent to the use of cookies by The Daily Chain and its partners to continue to our site. These cookies are used to personalize your user experience (content and ads) and support and improve the site. Please click “I Agree, Continue to Site” below to consent to the use of this technology and continue to TheDailyChain.com. Visit our Privacy Statement to learn more. Cookie settingsAgree, continue to site
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

bitcoin
Bitcoin (BTC) $ 30,711.00 10.75%
ethereum
Ethereum (ETH) $ 1,150.36 12.62%
tether
Tether (USDT) $ 0.997388 0.47%
polkadot
Polkadot (DOT) $ 16.11 6.07%
ripple
XRP (XRP) $ 0.265128 10.24%
cardano
Cardano (ADA) $ 0.316670 13.92%
litecoin
Litecoin (LTC) $ 133.66 7.48%
bitcoin-cash
Bitcoin Cash (BCH) $ 415.67 13.99%
chainlink
Chainlink (LINK) $ 18.90 11.45%
binancecoin
Binance Coin (BNB) $ 38.92 6.40%
Newsletter

Join our newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam