DeFi craze propels Uniswap monthly volume to $15.3B, surpassing Coinbase
Cointelegraph
Published Oct 03, 2020 10:50PM ET
Updated Oct 05, 2020 12:40AM ET
Data from Dune Analytics shows that in the month of September Uniswap decentralized exchange processed $15.371 billion in volume. In the same period, reports indicate that Coinbase processed $13.6 billion.
The significant spike in Uniswap’s volume can be attributed to two major factors. First, the explosive growth of decentralized finance (DeFi) and yield farming of governance tokens caused decentralized exchanges to thrive. Second, the launch of Uniswap’s governance token UNI led to a frenzy on the platform.
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Written By: Cointelegraph
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