Uniswap surpasses Coinbase Pro in trading volume for the first time

CONTENT

  • It is the first decentralized protocol to overtake a centralized exchange in trading volume.

  • The most popular trading pair on Uniswap was YFI / ETH

  • Developers are trying to fight scammers, but cybercriminals come up with new scam methods

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Thus, this is the first decentralized protocol based on Ethereum, which bypassed the centralized exchange in terms of trading volume.

Decentralized protocol based on the Ethereum blockchain, Uniswap Protocol, bypassed the famous American crypto exchange Coinbase Pro in terms of trading volumes.

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Uniswap developer Hayden Adams announced this on his Twitter page.

Source: uniswap.info

At the time of this writing, the trading volume on Coinbase Pro is $ 372.5 million. At the same time, Uniswap has over $ 454 million..

It is noteworthy that on August 27, the trading volume on Uniswap barely exceeded $ 141.1 million.

Blast wave

At the same time, the most popular trading pair in terms of daily trading volumes, according to the Uniswap Info service, is the sensational token. As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More YFI (over $ 68 million).

UniSwap Becomes the TOP Exchange DESTROYING Coinbase Pro & Kraken in Volume. Will De-Fi DOMINATE?

Source: uniswap.info

In second place is the pair ETH / USDT (over $ 63 million), and in third place is ETH / AMPL (just over $ 34 million).

Trading activity on Uniswap is driven by a sharp increase in the number of decentralized finance market tokens (DeFI) Decentralized finance (DeFi) is a financial services built on the basis of blockchain technology that offer users access to an open, efficient and … More), which are mainly distributed on the ERC protocol -20.

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Due to its ease of use and no registration required, Uniswap almost immediately became a favorite platform for buying DeFi tokens..

Uniswap surpasses Coinbase Pro in trading volume for the first time

However, along with decentralization, the site was flooded with fraudulent tokens..

Under the cover of hype

BeInCrypto has reported that over a dozen fraudulent tokens have appeared on Uniswap posing as legitimate DeFi protocols, including 1inch.exchange, dYdX, bZx, and Tornado.cash.

The project developers have already announced a new listing method, but how much the innovation will help in the fight against scam remains unknown..

Also, in pursuit of unconscious users, attackers are actively trying to advertise Uniswap clones through Google products..

In early August, for example, Google officially advertised at least three fraudulent clones stealing passwords and mnemonic phrases from users who wanted to purchase tokens..

At the time of this writing, fake sites have stopped appearing in search results.

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DeFi explosion Uniswap surpasses Coinbase Pro in daily volume

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Uniswap surpasses Coinbase Pro in trading volume for the first time
Uniswap surpasses Coinbase Pro in trading volume for the first time
Uniswap surpasses Coinbase Pro in trading volume for the first time

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