The decentralized exchange Uniswap, which operates on the DeFi ecosystem of the Ethereum Blockchain network, reached the sum of $ 2 billion. This amount of Total Blocked Value (TVL) equivalent in USD is one of the highest in the entire network.
Three months ago, the TVL of the entire DeFi ecosystem was comprised of the same amount of money that Uniswap now concentrates. It is a sample of how DeFi as a whole continues to strengthen as one of the most profitable businesses on the Blockchain this year.
The growth of this protocol consists of more than 180% since September 16. An extreme figure that the Uniswap decentralized exchange reaches in a very short time.
Uniswap, the most successful decentralized exchange in DeFi
To get an idea of the importance of Uniswap, you should review the features and functions it fulfills. In this sense, this protocol allows tokens to be exchanged between DeFi users. At the same time, it receives commissions for injecting liquidity.
At the same time, DeFi users maintain trust in the decentralized exchange Uniswap. They consider that it will maintain high amounts in the volume of transactions.
Parallel to this, the exchanges on the Uniswap platform reached the volume of $ 13.8 billion US dollars. All of this constitutes a sign of the forcefulness with which the DeFi ecosystem has been reinforced, specifically in the Ethereum network.
$ 11 billion USD in TVL
The TVL or total blocked value, is the measure of the value of the stablecoins deposited in the Decentralized Finance (DeFi) protocols. The same, according to the most recent data collected by DeFi Pulse, amounts to $ 11,000 million USD.
Of this $ 11 billion figure, only the Uniswap decentralized exchange reaches $ 2 billion, which represents 18.67%. It is the first time that a DeFi protocol exceeds this figure, which, as claimed, corresponded to the entire ecosystem just three months ago.
It should be taken into account that the growth of the TVL of DeFi in the Ethereum ecosystem has remained unstoppable thanks to the increase in activity in decentralized exchanges and other protocols. The calculations of many analysts fell short in the face of the impressive growth of these protocols.
A few months ago, CryptoTendency published expert analysis, who were forecasting a DeFi growth of USD 5 billion in TVL by January 2021.
Uniswap, the largest of the protocols
Currently, the decentralized Uniswap Exchange is the largest of the DeFi protocols. Nearby, in TVL, are other projects such as Maker, with $ 1.93 billion and Aave, with $ 1.54 billion USD.
It should be remembered that the DeFi protocols are intended to offer basic services such as generating loans. In this sense, these loans are generally linked to the US dollar and other digital asset deposit interests, these linked through the popular Smart Contracts.
At the same time that the TVL of the decentralized exchange Uniswap increases, so does that of its newest competitor, Sushiswap. This last exchange platform offered rewards to users for using it, which allowed it great popularity.
But Sushiswap hit a high on September 11, when it hit $ 1.4 billion. Since then it has started to deflate by more than 70%. Currently, this “copycat exchange”Has a TVL of about $ 400 million USD.
A volume on the rise
A key factor emerging from the growth of decentralized exchanges like Uniswap is the rising volume of exchanges. Thus, for example, in the last 12 months, their amount is located at $ 44.5 billion dollars.
Of these exchanges, the one of choice, of course, has been Uniswap. This decentralized exchange platform has provided services to more than 100,000 business addresses during the last week, according to data provided by the Decrypt news portal.
Other exchanges with a leading role in the ecosystem of Decentralized Finance of the Ethereum network, is Kyber Network. This platform operated services for about 2,000 users in the same period of 7 days.
Data to take into consideration
- Since September 16, Uniswap has grown 180% in TVL, which has allowed it to reach $ 2 billion USD.
- Uniswap’s closest rival, Sushiswap, decreased its TVL by more than 70% and from $ 1.4 billion on September 11, it now owns $ 400 million.
- Uniswap become the first decentralized protocol to reach $ 2 billion USD in TVL.
- The decentralized exchange Uniswap, reaches $ 13.800 million in exchanges.
- Of the $ 11 billion USD in TVL of the entire Ethereum DeFi ecosystem, Uniswap occupies 18.67%.
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