Decentralized exchanges are gaining traction, as Uniswap hits $1 trillion in cumulative volume and daily trading comes in at one-fifth of the São Paulo Stock Exchange itself.
Ethereum-based decentralized exchange Uniswap has reached the historic milestone of $1 trillion in trading volume since its launch in November 2018.
Uniswap, unlike common cryptocurrency exchanges, does not depend on a central entity to carry out negotiations. And within that dynamic, fees are paid to liquidity providers, which have raised more than $2 billion in crypto, according to data aggregator Token Terminal.
The decentralized broker (DEX – decentralized exchange) is open source and does not require the user to relinquish custody to exchange their assets. Also, people can list their tokens on the exchange for free, while many centralized exchanges charge for it.
Possibly because of these and other advantages, Uniswap and other DEXs have tended to grow. Uniswap reached $500 billion in volume at the end of October 2021 and thus doubled that mark in just six months.
Is the future decentralized?
Uniswap’s daily volume is around US$ 1.94 billion (~R$ 9.59 billion), reaching higher numbers on specific days. These data are getting closer each day to B3, the São Paulo Stock Exchange. According to B3’s data, the broker’s daily spot market volume is approximately R$44.3 billion.
In other words, Uniswap exceeds one fifth of the volume of the Brazilian stock market, more specifically 0.21%. While Uniswap has allowed the purchase and sale of cryptocurrencies for 3 and a half years, B3 is more than 130 years old and represents the traditional market in Brazil.
NovaDAX is full of news!
One of the largest cryptocurrency exchanges in Brazil has now ZERO withdrawal fees in real!
NovaDAX also counts zero fees for Bitcoin transactions and more than 110 listed currencies, with cash withdrawal available and high liquidity.
Cryptocurrencies with the best rates on the market! Simply activate the free Novawards program and enjoy reduced rates of up to 75%.
Discover the NovaDAX Card and order yours now.