Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Crypto News
  • Looming Uniswap V3 Sees DEX Exceed All-Time High
  • Crypto News

Looming Uniswap V3 Sees DEX Exceed All-Time High

Blaine Matta December 16, 2020 2 min read
Looming Uniswap V3 Sees DEX Exceed All-Time High

Automated market maker (AMM), Uniswap has recently achieved another milestone, which involves marking an all-time high in regard to its trading volume. The man behind the Uniswap protocol, Hayden Adams tweeted the news that they had recently managed to exceed the trading volume of $50 billion. He further highlighted that this particular milestone had been achieved through 26,000 unique transactions that had been made via the protocol. In an earlier tweet, Adams had explained that the gas that was used on Uniswap on a daily basis was costing around a staggering sum of $420,000. This means that the annual gas fees for the decentralized exchange (DEX) is approximately $150 million, which is substantial, to say the least.

According to the statistics provided by ETH Gas Station, the total amount of gas that has been consumed by Uniswap up until now is around $12.7 million. This effectively makes the protocol the biggest consumer of gas on the list. Nonetheless, the founder of the decentralized exchange is quite ambitious and he has already floated around the idea that Uniswap could someday achieve a trading volume in trillion dollars. As a matter of fact, he even organized a small poll to see when people expected this event to happen.

A total of 1200 people responded to the mini-poll and nearly half of them were of the opinion that Uniswap would reach the cumulative volume of a trillion dollars by 2021. While there were many people who were eager to congratulate the decentralized exchange (DEX) for its unique achievement, there were also those who began to ask about its ‘rug pulls’ and the contribution they have made to this impressive trading volume. To put it simply, rug pulls is a term used to refer to fake tokens, which are a common occurrence on a decentralized exchange (DEX). 

These people asked Uniswap to provide figures that highlighted the losses that had occurred because of these rug pulls. Another common question that popped up is the fabled V3 and people asked Adams when it would make it appear and be rolled out fully. The third iteration of the renowned decentralized exchange is said to be ready in Github and yet there hasn’t been any mass deployment as yet, which begs the question of why. A number of new features have been promised in V3, including dynamic trading fees, trading pair creation without requiring both sides of the market, and low tolerance for slippage. 

Furthermore, the implementation of Optimistic Rollups is also expected for enacting Layer 2 scaling for high-speed and low-cost transactions that take place on the Ethereum Network, which has been becoming rather expensive of late due to gas prices. The founder has not given any concrete data nor has the team revealed anything, but the official launch of the V3 is expected pretty soon. After the announcement of the trading volume, the Uniswap protocol saw a 2.6% increase in its total value locked, as it reached a total of $1.37 billion, as per Defipulse.com.

Post Views: 517

Continue Reading

Previous: Bitcoin Makes History As Price Spikes Above $20,000 For the First Time
Next: Former CFO of Cisco Named as the New Director of Coinbase Board

Related Stories

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit
2 min read
  • Brokers
  • Crypto News

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

August 18, 2022
Galaxy Digital Terminates Bitgo Acquisition Deal
3 min read
  • Crypto Marketplace
  • Crypto News

Galaxy Digital Terminates Bitgo Acquisition Deal

August 17, 2022
Bank Of Russia Intends To Launch Digital Ruble In 2024
3 min read
  • Crypto News

Bank Of Russia Intends To Launch Digital Ruble In 2024

August 16, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$21,410.00
-8.62%
ethereum
Ethereum (ETH)
$1,704.58
-9.04%
tether
Tether (USDT)
$1.00
0.13%
usd-coin
USD Coin (USDC)
$1.00
0.23%
binancecoin
BNB (BNB)
$286.86
-5.66%
ripple
XRP (XRP)
$0.341807
-9.70%
cardano
Cardano (ADA)
$0.469605
-11.50%
dogecoin
Dogecoin (DOGE)
$0.070040
-10.91%
polkadot
Polkadot (DOT)
$7.52
-10.41%
Uniswap
Uniswap (UNI)
$7.14
-9.97%

Recent Posts

  • Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

    Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

    On Wednesday, digital asset broker Genesis made several announcements, the first of which was that its chief executive
  • Galaxy Digital Terminates Bitgo Acquisition Deal

    Galaxy Digital Terminates Bitgo Acquisition Deal

    Mike Novogratz, the founder and chief executive, of Galaxy Digital Holdings, announced that the company had chosen to
  • Bank Of Russia Intends To Launch Digital Ruble In 2024

    Bank Of Russia Intends To Launch Digital Ruble In 2024

    A paper detailing the priorities of the Russian central bank for its monetary policy between the 2023 and
  • Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

    Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

    A class-action lawsuit was recently filed against Robinhood, which supports stock and crypto trading, and the platform has
  • JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review Suppose you are interested in trading cryptocurrencies but are hesitant to do so due to

Start Trading

Categories

Top Posts

  • MarketSpots Review – What Sets This Broker Apart

    MarketSpots Review – What Sets This Broker Apart

    MarketSpots Review If my guess is right then you have recently become interested in the online trading business
  • XRP’s ETP is to be Listed on the Third-Largest Stock Exchange in Europe

    XRP’s ETP is to be Listed on the Third-Largest Stock Exchange in Europe

    Despite all the fuss the XRP seems to be in with the SEC in the USA, the other
  • Chinese Lotto Company 500.com Overtakes Btc.com in an Acquisition

    Chinese Lotto Company 500.com Overtakes Btc.com in an Acquisition

    A Chinese company, namely 500.com, involved in the business of sports lottery and who is also registered publicly
  • Messari: Coinbase’s IPO Could See The Company Valued At $28 Billion

    Messari: Coinbase’s IPO Could See The Company Valued At $28 Billion

    The San Francisco-based digital currency exchange Coinbase is gearing up for going public and plans to conduct an
  • Bloomberg Strategist Says Money Managers Should Adopt Crypto Trading

    Bloomberg Strategist Says Money Managers Should Adopt Crypto Trading

    The financial market is full of challenges, and it favors those who can keep up with the changing

Archives

You may have missed

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit
2 min read
  • Brokers
  • Crypto News

Crypto Broker Genesis Slashes Workforce and Announces CEO’s Exit

August 18, 2022
Galaxy Digital Terminates Bitgo Acquisition Deal
3 min read
  • Crypto Marketplace
  • Crypto News

Galaxy Digital Terminates Bitgo Acquisition Deal

August 17, 2022
Bank Of Russia Intends To Launch Digital Ruble In 2024
3 min read
  • Crypto News

Bank Of Russia Intends To Launch Digital Ruble In 2024

August 16, 2022
Class-Action Lawsuit Accuses Robinhood Of Market Manipulation
2 min read
  • Crypto News
  • Cryptocurrency/Cryptocoin

Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

August 15, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
  • Alfabtc
  • JP Crypto
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$21,410.00-8.62%
  • ethereumEthereum(ETH)$1,704.58-9.04%
  • tetherTether(USDT)$1.000.13%
  • usd-coinUSD Coin(USDC)$1.000.23%
  • binancecoinBNB(BNB)$286.86-5.66%
  • rippleXRP(XRP)$0.341807-9.70%
  • cardanoCardano(ADA)$0.469605-11.50%
  • SolanaSolana(SOL)$37.35-8.85%
  • dogecoinDogecoin(DOGE)$0.070040-10.91%
  • polkadotPolkadot(DOT)$7.52-10.41%
  • UniswapUniswap(UNI)$7.14-9.97%
  • bitcoin-cashBitcoin Cash(BCH)$118.25-10.66%