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Uniswap For the First Time Overtakes Coinbase in 24H Trading Volume

Uniswap, the cryptocurrency broker that is based on the Ethereum (ETH) blockchain and runs via smart contracts has left behind the United States-based digital currency exchange Coinbase in 24-hour trading volumes. The Coinbase exchange is considered as one of the top cryptocurrency exchanges in the world. According to the data from the cryptocurrency data site CoinMarketCap (CMC), the ETH-based broker recorded more trading volume in the last 24 hours than the major crypto exchange Coinbase for the first time ever in the history.

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Uniswap’s 24H trading volume is higher than Coinbase

As reported by the social media platform Reddit and the news site Trustnodes, the 24-hour trading volume of the crypto broker Uniswap spiked high surpassing the 24-hour trading volume of the Coinbase exchange. Uniswap Protocol’s trading volume was noted going higher than Coinbase during the last twenty-four hours.

Reportedly, the 24 hours trading volume of the Uniswap Protocol reached $426 million while on the other hand, the major digital currency exchange Coinbase’s 24 hours trading volume was standing at $348 million which means that the Uniswap protocol’s trading volume was approximately $80 million higher than that of the Coinbase exchange’s volume.

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It is the first time ever in the history that the cryptocurrency broker Uniswap has surpassed the leading digital currency exchange Coinbase in trading volumes. It marks a major achievement for the Uniswap protocol. This was actually quite surprising for users and the cryptocurrency community as well.

Last week Uniswap overtook Tether as ETH’s largest Gas spender

Recently, Uniswap registered another milestone in the record book by becoming the largest gas spender on the network of Ethereum (ETH). Last week, it overtook the stablecoin Tether (USDT) to become the Ethereum network’s largest gas consumer.

Comparatively, according to the data from ETHGasStation, the Uniswap protocol produced approximately $6.99 million within the duration of 30 days while on the other hand, Tether generated $6.39 million.


MubaShar Nawaz

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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