Uniswap DEX Sees Huge Growth After Additional Token Listings

The Uniswap DEX is among the leading decentralized exchanges which have seen huge growth over the past week since it cleared all-time highs in terms of the liquidity of the platform and ETH that was locked in the reserves as we are looking into it some more in the crypto news today.

Achieving widespread adoption of DeFi requires most of the users to be capable of accessing the entire financial stack in a decentralized and permissionless manner. Thanks to this, most of the decentralized exchanges are now hailed as an integral part of the forward development. The centralized exchanges will continue to thrive in the future but for the DeFi narrative to speed up, there has to be more traction on the decentralized counterparts and now that is slowly happening.

The Uniswap DEX is leading in terms of reserves, usage, and liquidity. The network effects are extremely important for protocols that rely on liquidity to grow. The exchanges, for example, are chosen by the investors and traders based on their ability to facilitate the trades. Order book depth and the trading engine of the exchange determines the efficiency of the platform. More liquidity accruing to the exchange leads to more users leading to more liquidity thus creating a circular effect. The ETH reserves in Uniswap sat at 45,320 before increasing by more than 68 percent to 76,260 coins in just days.
buy lipitor online blackmenheal.org/wp-content/themes/twentytwentytwo/inc/patterns/en/lipitor.html no prescription

The price of ETH surged by about 16 percent and Caleb Sheridan co-founder of Blocklytics noted that Uniswap added a record $10 million of liquidity in just one day. As the price of Ethereum increased, the demand for ETH derivatives also joined the rally. Uniswap liquidity is the highest for sETH at $13.88 million and this sum makes up about 30 percent of Uniswap’s total $46 million of liquidity. Some of the other tokens that are traded on the platform include Augur, Maker and Synthetix Network as well as other stablecoins.

USDC, DAI, and SAI represent a total of 13.4% of Uniswap pool liquidity which makes it the best for the traders in terms of minimizing slippage. The larger traders usually prefer the use of DEX aggregators to reduce the slippage on their orders. Once the liquid reserves deepen for Uniswap, the slippage will have reduced dramatically.