Decentralized Alternate (DEX) and Automated Market Maker (AMM) Uniswap Layer-2 (L2) has reached a milestone with transaction quantity exceeding $200 billion by February 2024.
Uniswap L2 transaction quantity reaches all-time excessive
Knowledge from crypto analytics platform Dune confirmed that Uniswap L2 all-time protocol quantity on Arbitrum, Polygon, Optimism and Base reached a brand new All-Time-Excessive (ATH).
In line with the chart, quantity is now about $208.11 billion, an enormous acquire from final 12 months’s ranges. As of February 2023, Uniswap L2 cumulative quantity was simply $75 billion, indicating a whopping 280% enhance prior to now twelve months.
In comparison with the amount of $13.9 billion in February 2022, the current document is a big milestone. Within the final 24 hours UNI the native coin of the ecosystem, has proven optimistic sentiment pushed by a lot of components together with ATH transaction quantity.
The Uniswap Basis has introduced a proposal aimed toward bettering protocol administration, with a particular give attention to the redistribution of protocol charges amongst UNI token holders. voting has began and can stay open till March 7.
This information is putting contributed as much as a 15% enhance within the worth of the UNI token. The coin rose to over $13.08, reflecting the group’s optimistic response to the proposal.
All-time L2 quantity on Uniswap simply surpassed $200 billion
pic.twitter.com/SqbwFZzruu
— Uniswap Labs
(@Uniswap) March 2, 2024
Nonetheless, the hype has subsided considerably and the token has fallen to earlier ranges. On the time of writing, UNI was buying and selling at $12.22, up 5% within the final 24 hours.
UNI reaches a number of milestones
The cumulative transaction quantity result’s a transparent indication of how properly the decentralized alternate ecosystem has carried out to this point this 12 months. There may be at the moment one expectation for Uniswap V4, the alternate’s non-custodial, non-upgradable and permissionless automated market maker protocol. Uniswap says the protocol will go dwell within the third quarter of this 12 months.
Remarkably, the information about Uniswap V4 is one other propeller of UNI’s value. On February 23, UNI made a excellent revenue of 70%, fueled by the decentralized alternate altering the compensation mechanism in favor of those that stake the UNI tokens.
So far, UNI’s value positive aspects have considerably contributed to revolutionizing the Decentralized Finance (DeFi) sector, taking consideration away from AI and focusing it on DeFi.