Uniswap Leapfrogs Ethereum in User Fees

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Alex Dovb­nya

Decen­tral­ized exchange Uniswap has sur­passed Ethereum in user fees due to an uptick in trad­ing activity 

Uniswap, the largest decen­tral­ized exchange, has sur­passed the Ethereum net­work in fees, accord­ing to a Bloomberg report.

The flag­ship DEX gen­er­at­ed over $4 mil­lion, rac­ing ahead of the sec­ond-largest blockchain.

Arca ana­lyst Katie Talati attrib­ut­es the recent mile­stone to rapid­ly grow­ing volatil­i­ty, which caused a sig­nif­i­cant uptick in trad­ing volumes.

At the same time, Ethereum has expe­ri­enced a size­able decline in user activ­i­ty, with layer‑2 solu­tions becom­ing increas­ing­ly pop­u­lar because of cheap fees.

In Decem­ber 2021, Uniswap v3 con­tracts were deployed on Poly­gon. Pri­or to that, the decen­tral­ized exchange was also launched on Arbitrum.

As report­ed by U.Today, Uniswap sur­passed $1 tril­lion in total trad­ing vol­ume last month. The exchange has logged $1.22 bil­lion worth of trades over the past 24 hours.

Launched back in 2018, the auto­mat­ed mar­ket mak­er came into promi­nence in mid-2020 dur­ing the peak of the decen­tral­ized finance craze.

The trad­ing plat­form has faced plen­ty of crit­i­cism for facil­i­tat­ing the pro­lif­er­a­tion of scam tokens. In April, a North Car­oli­na res­i­dent slammed Uniswap and its ven­ture cap­i­tal back­ers with a class action law­suit for “ram­pant fraud.”

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