{"id":101768,"date":"2024-11-28T02:55:54","date_gmt":"2024-11-28T06:55:54","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101768"},"modified":"2024-11-28T02:56:44","modified_gmt":"2024-11-28T06:56:44","slug":"uniswap-hits-record-l2-volume","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/uniswap-hits-record-l2-volume\/","title":{"rendered":"Uniswap Hits Record L2 Volume as DeFi Demand Surges"},"content":{"rendered":"\n

Uniswap has seen record monthly volume across Ethereum L2s<\/a>, and\u00a0one analyst says\u00a0it's\u00a0an early hint of Ethereum ecosystem outperformance.<\/p>\n\n\n\n

\"Uniswap<\/figure>\n\n\n\n

Uniswap has achieved a new monthly volume record on Ethereum layer 2 networks as interest in decentralized finance (DeFi) surges.<\/p>\n\n\n\n

Data from Dune Analytics\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> reveals that Uniswap recorded $38 billion in trading volume across Ethereum layer-2 solutions such as Base, Arbitrum, Polygon, and Optimism. <\/p>\n\n\n\n

This November milestone surpasses the previous high set in March by $4 billion.<\/p>\n\n\n\n

\"Uniswap
Uniswap saw record monthly volume in November across Ethereum L2s. Source: Dune Analytics<\/em><\/figcaption><\/figure>\n\n\n\n

Henrik Andersson, chief investment officer at Apollo Crypto, attributed the spike in Uniswap's layer-2 activity to rising demand for assets and stablecoins within the broader DeFi ecosystem. \u201c[This is] in line with the DeFi renaissance and the recent increase in ETH\/BTC. Onchain yields are also rising,\u201d Andersson told Cointelegraph<\/em>. <\/p>\n\n\n\n

He also noted that this trend could signal the beginning of a long-anticipated period of outperformance for Ethereum-based projects. <\/p>\n\n\n\n

\n

\u201cEvery time Bitcoin closes in on 100k, we have seen Ethereum and DeFi coins starting to move,\u201d he added.<\/p>\n<\/blockquote>\n\n\n\n

Uniswap experienced its highest volume on Arbitrum, which accounted for $19.5 billion, followed by Coinbase\u2019s Base network, which saw $13 billion in trades.<\/p>\n\n\n\n

Currently, Uniswap ranks as the sixth-largest protocol by fees, generating over $90 million in the last month. <\/p>\n\n\n\n

This places it ahead of several other protocols, including Solana\u2019s Pump.fun memecoin<\/a> launchpad, as well as major networks like Tron and Maker.<\/p>\n\n\n\n

The activity boost has also been reflected in the price of Uniswap\u2019s native token, UNI. Over the past week, UNI has risen by more than 42%, trading at $12.58 at the time of publication, a 10% gain in the last 24 hours.<\/p>\n\n\n\n

UNI\u2019s performance has outpaced other decentralized exchange tokens, including Solana-based Raydium, which is down 2.2% for the week, and Jupiter, which has gained 7.7% over the same period.<\/p>\n","protected":false},"excerpt":{"rendered":"

Uniswap has seen record monthly volume across Ethereum L2s, and\u00a0one analyst says\u00a0it’s\u00a0an early hint of Ethereum ecosystem outperformance. Uniswap has achieved a new monthly volume record on Ethereum layer 2 networks as interest in decentralized finance (DeFi) surges. Data from Dune Analytics reveals that Uniswap recorded $38 billion in trading volume across Ethereum layer-2 solutions […]<\/p>\n","protected":false},"author":56,"featured_media":101773,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[202,197,128,973],"class_list":["post-101768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-blockchain","tag-defi","tag-ethereum","tag-uniswap"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/Uniswap-Hits-Record-L2-Volume-as-DeFi-Demand-Surges.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101768"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101768\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101773"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}