Uniswap Overtakes Coinbase as Second-Largest Exchange Trading Ethereum Today
Traders are flocking to decentralized exchanges (DEXs) in the wake of FTX’s sudden, catastrophic implosion. One DEX, in particular, has risen overnight to become the world’s second-largest venue for trading Ethereum: Uniswap. Uniswap inventor Hayden Adams shared the news on Twitter today, citing analysis by Nansen CEO Alex Svanevik. DEXs let customers trade crypto while retaining full control over their funds, unlike centralized platforms, providing a greater level of protection against withdrawal freezes or network outages. At the time of tweeting, Uniswap had hosted north of $1 billion in Ethereum trades in the last 24 hours, nearly double the volume of Coinbase, the second-largest centralized exchange (CEX) in the world by total trading volume.
@Uniswap_PancakeSwap
