Uniswap and Curve Battle for Top Position in DeFi Domain

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Uniswap and Curve Bat­tle for Top Posi­tion in DeFi Domain
July 27, 2022
July 27, 2022

Kelly Cromley
http://1AZFjzw2#Nwf63pYaMWq#xIY

Large investors in Uniswap (UNI) are report­ed­ly mak­ing aggres­sive pur­chas­es of the cryp­tocur­ren­cy, as report­ed by the ana­lyt­ics firm San­ti­ment. Accord­ing to Santiment’s esti­mates, address­es with own­er­ship rang­ing from 10,000 to one mil­lion Between July 8 and July 24, Uniswap acquired 10.74 mil­lion more UNI to their hold­ings, which rep­re­sents 1.1 per­cent of the entire sup­ply of the asset.

The ana­lyt­ics firm esti­mates that the 16-day accu­mu­la­tion of the most impor­tant stake­hold­ers at UNI is worth around $74.3 mil­lion. The strong­hold that Curve (CRV) now has in the mar­ket for decen­tral­ized finance (DeFi) is being chal­lenged by the decen­tral­ized exchange (DEX).

Accord­ing to IntoThe­Block, Uniswap’s total val­ue locked (TVL) briefly sur­passed that of Curve last week. This was report­ed by Uniswap. Accord­ing to the ana­lyt­ics firm, Curve has main­tained its posi­tion as the most suc­cess­ful DEX in terms of TVL for more than a year. Sub­se­quent­ly, it has regained the lead­ing posi­tion, despite the fact that the com­pe­ti­tion between the two DEXs is still quite close. Curve has $5.86 bil­lion in TVL as of the time this arti­cle was writ­ten, where­as Uniswap only owns $5.85 billion.

The total val­ue of the smart con­tracts that are stored on a blockchain is sym­bol­ized by the TVL. The TVL may be eas­i­ly cal­cu­lat­ed by sim­ply mul­ti­ply­ing the total amount of col­lat­er­al con­nect­ed to the plat­form by the cur­rent mar­ket val­ue of those assets. San­ti­ment fore­casts that the price of Ethereum (ETH) will con­tin­ue its errat­ic behav­ior as mar­ket par­tic­i­pants get ready for today’s meet­ing of the Fed­er­al Open Mar­ket Com­mit­tee (FOMC).

On Sun­day, the price of Ethereum was volatile, first reach­ing above $1,640 and then drop­ping all the way down to $1,540. A price drop is some­thing that the trad­ing com­mu­ni­ty still sees as like­ly hap­pen­ing before the next meet­ing of the Fed­er­al Open Mar­ket Com­mit­tee (FOMC). Ethereum ought to keep its volatile nature.”



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