Uniswap saw an unprecedented 43% traffic surge on its exchange, even though the crypto markets remained lackluster throughout September. The mainstream Crypto Exchanges like Binance, Coinbase, BitMex seemed to struggle to garner a substantial traffic flow.
ICO Analytics reported that the traffic inflow on DEX platforms like Uniswap was surprisingly better than CEX with a substantial 43% in traffic volume. This makes it the 6th largest exchange in the world
There is an increased interest in the DeFinetworks among the crypto enthusiasts, and this is evident from the DEX’s which saw a massive surge in incoming traffic. Uniswap, which allows trading of Ethereum tokens, fared exceptionally well recording an enormous 43% rise in traffic.
Uniswap Going Places
In another report published last week, The Block reported the trade volumes of Uniswap were enormously higher than that of Coinbase. During September 2020, Uniswap garnered approximately 65%of the total earnings. Uniswap distributed its early users with a reward of UNI tokens. They shelled out 400 UNI tokens for a price of 3 dollars apiece, which helped to garner immense traffic.
Collin Wu, a Chinese Crypto Reporter, scrutinized the data presented by the ICO Analytics, which indicated that the Decentralized platforms like Uniswap that provide ETH trading, toppled the charts even in the gloomy economic times.
Over the last 24 Hours, Uniswap’s DEX trade volume has increased, raising a flurry of discussions over social media. The crypto watchers are looking for the possible chances of DEX leaving behind the centralized exchanges sometime in the future.
A recent Dune Analytics report also pointed out that Uniswap grabbed $2.3 Billion USD worth swaps out of a total of 3.7 USD Swaps done by DEX exchanges.
Collin Wu Highlighted Probable Glitch in Data
Wu tweeted about the Uniswap lead in the crypto trading and traffic volume; however, in a subsequent tweet, he questioned the credibility of ICO Analytics data as the Chinese Web Traffic analytics is often manipulated and unreal.
He said that App traffic is not possibly counted accurately, which means that firm conclusion cannot be deduced out of the ICO Analytics report.