Uniswap launched its services in November 2018. It provides decentralized financial services based on the Ethereum blockchain. The exchange has become one of the most important decentralized exchanges. Uniswap was also recently launched on BNB Chain following the offering.
Now, according to the latest data from The Block Research, Uniswap has recorded significant spot market volume. The exchange also outpaced Coinbase for the second month in a row.
Uniswap Records $71.6 Billion Spot Market Cap
According to the data, Uniswap recorded $71.6 billion in spot market trading volume in March. The data reveals that it is 45% higher than Coinbase’s.
The data are also decentralized stock market It’s proving to be the best month since January 2022. Coinbase recorded $49.4 billion in spot market cap in March. The increase in trading volume on DEXs like Uniswap is proof that users are turning to decentralized exchanges.
The tight scrutiny by the SEC and US regulators has also affected the trading volume on Coinbase. Regulators as part of Operation Choke Point 2.0 cryptocurrency He’s trying to quietly crash his industry. Coinbase was also the subject of a Wells notice in May.