Based on IntoTheBlock, the outstanding crypto and DeFi intelligence platform, Uniswap is much forward of different decentralized exchanges by way of market capitalization. Then again, this isn’t the true indication of market dominance as Pancakeswap just isn’t far behind by way of quantity.
🔍 Prime DEXs by quantity
Uniswap could also be miles forward by way of market capitalization, however its quantity dominance just isn’t as pronounced.In the meantime, Pancakeswap punches above its weight in quantity, exhibiting that it’s nonetheless a prime contender regardless of its decrease token worth. pic.twitter.com/cjgXEtjca9
— IntoTheBlock (@intotheblock) September 13, 2024
Uniswap is a decentralized cryptocurrency trade that makes use of a sequence of sensible contracts to create liquidity swimming pools for the execution of trades. It’s an open-source undertaking and falls into the class of a DeFi product as a result of it makes use of sensible contracts to facilitate buying and selling as an alternative of a centralized trade.
Uniswap’s market cap is miles forward, however quantity exhibits a smaller hole
IntoTheBlock’s report exhibits that regardless of its market dominance by way of market capitalization, Uniswap just isn’t actually within the lead within the prime DEXes race as Pancakeswap additionally shares a major share by way of buying and selling quantity.
Listed here are the complete particulars of the present prime DEXes by quantity:
- Uniswap: it leads with 46.79% of the whole quantity.
- Pancake swap: the decentralized trade native to BNB Chain dominates with a quantity share of 21.09%.
- Curve financing: it’s a decentralized trade and automatic market maker totally on the Ethereum blockchain and suitable EVM sidechains/L2s. It’s the third largest DEX by quantity, with 7.68%.
- Lifinity: The Solana AMM has 5.06% of the shares.
- Camelot: It’s a decentralized and permissionless trade that helps the Arbitrum ecosystem. It holds roughly 4.61% of the market quantity.
Lastly, Balancers, Dealer Joe and Solar are additionally within the prime 8 with 3.09%, 3.08% and 1.69% respectively.
This report exhibits that market capitalization just isn’t all the time the true indicator of market dominance, as buying and selling quantity can also be an necessary indicator.