The astronomical rise of the prank-themed cryptocurrency PEPE last week caused the frequency of transactions on decentralized exchanges to become more frequent.
DeFi Platform according to crypto tracker CoinGecko UniswapOn May 4, 2023, it surpassed the Coinbase exchange with a daily volume of $ 1.2 billion. Centralized crypto trading platforms PEPE After the news that it will list the coin, the volume gap continued to widen.
According to the data, with Uniswap on May 5, 2023 coinbase The volume difference between the two reached 900 million dollars. While the volume of 2.2 billion dollars was realized on the DeFi platform, Coinbase was limited to 2.3 billion dollars.
The rivalry between the two exchanges has been going on for months, although most of the crypto community attributes the difference to the meme coin PEPE.
Interest in DeFi Exchanges Increases!
Increasing regulatory pressure and bankrupt central crypto institutions around the world are fueling interest in DeFi exchanges. After the collapse of the FTX stock market last November, users turned to decentralized finance platforms. After the negative developments, Uniswap came to the fore.
According to Dune Analytics data, a total of $73 billion in transactions were recorded on the Uniswap exchange during March.
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