In 2020 decentralized exchanges (dex) have grown quite mature compared to just a few years ago. One specific dex gathering a lot of steam this year in the defi world is Uniswap, a trading platform that held $1.3 billion locked in value and dominated most defi applications by over 18% Friday evening. The following review is a detailed explainer of what Uniswap is and how to leverage the dex using an Ethereum wallet like Metamask.
**Price quotes, TVL, and defi dominance percentages from this Uniswap review were recorded on Friday evening, September 4, 2020.
Ethereum Dex Uniswap Shatters Records
Decentralized finance (defi) has been all the rage and one feature the economy has amplified is the use of decentralized exchanges. News.Bitcoin.com recently reported on the massive dex trade volumes that have been taking place recently, and this week has been no different.
On Friday evening, stats from Dune Analytics indicate that dex platforms have continued to surge in volume with seven-day growth at 178%. During the last week, dex platforms have surpassed $7.1 billion in global swaps and $968 million in the last 24 hours.
The dex protocol Uniswap is the most dominant trading platform. Uniswap eclipses most of the dex contenders with 71.9% of the aggregate dex trade volume globally. Over 91,000 traders were active on Uniswap on Friday evening. Defipulse.com stats show Uniswap also dominated by more than 18% of the defi economy with $1.3 billion total-value locked (TVL) at its height. In recent days, Uniswap’s trading volume outpaced the centralized exchange Coinbase Pro as well.