decentralized exchange Uniswaphas reached a significant milestone in the use of multi-chain. According to an update shared by the exchange on X, exactly 3,271,574 users are currently using Uniswap’s multi-chain protocols. adopts. This represents more value than the sum of chains such as Ethereum, Arbitrum, Celo, Binance Coin (BNB), Base, Polygon and Avalanche.
Uniswap was initially launched as an Automated Market Maker (AMM) on the Ethereum blockchain. The gradual expansion that comes with adoption has enabled the exchange to expand into other networks and expand its reach. This means that the exchange demonstrates the impact of collaboration in the blockchain ecosystem and predicts that the industry is moving towards a multi-chain future.
Over 3M addresses have swapped on multiple chains with Uniswap 🤯
The future is multichain 👀 pic.twitter.com/Fypro2fBnt
NEWS CONTINUES BELOW— Uniswap Labs 🦄 (@Uniswap) April 22, 2024
Uniswap is ahead of the others with its multi-chain support and other features, although there are many chains it has not yet integrated with. The update is gaining attention among investors as well as movements in the price of its native token.
At the time of writing, UNI is up 2.3% against the dollar in the last 24 hours and more than 11% in the last seven-day period and is currently trading at $8.06. The token may have experienced further declines, but rapidly increasing adoption could change its value in the long run.
Despite Uniswap’s remarkable success, there is great uncertainty that the exchange could be involved in some litigation with the United States Securities and Exchange Commission (SEC).
Earlier this month, the US SEC, led by chairman Gary Gensler, issued a Wells Notice to Uniswap, warning that the regulator may treat the offerings as an investment contract. Uniswap founder Hayden Adams announced that he will face the SEC by launching a similar legal fight with platforms such as Ripple Labs, Binance and Coinbase.
