The exchanges, like the rest of the cryptocurrencies, have taken a 'dive.' Despite their widespread appeal, Decentralized Exchanges were not without precedent. Uniswap, on the other hand, was able to preserve and strengthen its position as the largest DEX.
Introduction
Uniswap v3 volumes have soared, driving the decentralized exchange (DEX) into the second position, after its v2 edition, despite its rough start.
According to Messari statistics, the DEX has now eclipsed SushiSwap as the Ethereum network's second-largest exchange, with a weekly volume of $6.5 billion. Uniswap v2 is still the most popular Ethereum-based DEX, with a weekly volume of nearly double that at $12.4 billion.
Methodology
The trend in the Uniswap wallet activity is monitored by visualizing its amount balance over the chosen period of time and is compared with the trend followed by combining all the labels in DEX where the value had dominated the Uniswap volume in the overall chosen time.
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For the chosen period of time, the distribution of tokens in the Uniswap platform is accounted for different tokens. Considering the huge values of transactions in the Uniswap platform, its dominance in the Ethereum mainnet can be confirmed.
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This chart is to implement the dominance of Uniswap on the ethereum Mainnet where the chart is plotted for the sum of the balances that has been made by all other labels versus the one by the Uniswap.It is evident that over time,The uniswap had acquired enough potential to overshine the balance in the Ethereum Mainnet.
This is also due to the fact that Uniswap's active investment base has shrunk dramatically. Around 2.12k investors were active on-chain in November 2021, but that number has subsequently dropped to only 753.Similarly too many disruptions had occurred and it withstood all to be named as
King DEX .
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