In the last few years, decentralized exchanges (DEXs) seemed to be a flash in the pan against the huge growth seen by giants like Coinbase and Binance. 2020, on the other hand, is a whole new landscape, and decentralized exchanges like Uniswap are enjoying a massive increase in trading volume.
Uniswap, a leading DEX, just hit a record high for 24-hour volume.
Uniswap’s market share has been growing rapidly in the past several months. According to CoinGecko data, Uniswap did $254M in volume in the past day—nearly four times higher than the next closest decentralized liquidity pool.

The growth makes sense when considering that Uniswap is where many DeFi tokens are first listed and is a primary source of liquidity for many new Ethereum-based tokens. Uniswap’s total volume puts it in a position to start rivaling some of the larger, centralized exchanges. At the time of publishing, Uniswap’s volume rivaled some of the top-rated centralized cryptocurrency exchanges, beating out KuCoin by a hefty margin and matching nearly 45% of the 24H volume on Coinbase Pro."Okay can you guys stop trading"
— Hayden Adams 🦄 (@haydenzadams) August 10, 2020
🤯 $250M 24h volumehttps://t.co/GYzcuJc9d3 pic.twitter.com/8TUqzmb0Dx

This news comes in the wake of Uniswap’s announcement of an $11 million Series A funding round led by Andreessen Horowitz. These kinds of developments are likely to increase regulatory attention, and perhaps this is when the real test will begin.#Uniswap has done $193 MILLION in volume over the last 24 hours.
— 𝐁𝐮𝐥𝐥𝐫𝐮𝐧 𝐆𝐫𝐚𝐯𝐚𝐧𝐨 (@Bullrun_Gravano) August 11, 2020
Just wait until the 80% of you figure out how to use it.
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