Uniswap: First Protocol To Generate Over $1B in Fees

Uniswap Reportedly Down Due to Some Technical Glitch

Uniswap is one of the biggest trading protocols in the world. It is a decentralized finance protocol that is used to exchange cryptocurrencies. Uniswap has become the first decentralized protocol to surpass $1 billion in fees for liquidity protocol.

The firm has various factors which have now led to its development and drives it to be the first DeFi protocol to surpass $1B in transaction fees. Another factor to be noticed is, the accounted fees were only for Uniswap v2 and Uniswap v3.

The head of research at IntoTheBlock, Lucas Outumuro tweeted a chart that shows all-time revenue of Uniswap v2 and v3. On August 10, he posted a tweet noting that the firm has reached $1.02 billion for liquidity providers since its creation in November 2018.

Uniswap’s Surging Fee Revenue

According to CryptoFees, Ethereum led the way with over $21 million in fees in the last 24 hours, followed by Uniswap’s $3.4 million. Dropping south, BSC earns $3.3 million, SushiSwap earns $1.2million, Aave earns $1 million, and Bitcoin network earns 598k. The weekly picture of the average fee is essentially the same.

Additionally, when it is subjected to ETH burns then, Uniswap will be the second-largest contributor of 3,032 accounting for both v2 and v3 of Uniswap, according to Dune Analytics. On the other hand, OpenSea is at the top of the list of 4,024 ETH burns. 
Briefly, the surging Ethereum gaming platform, Axie Infinity is the third biggest on the list with 1,877 ETH burns. For the past week, Axie Infinity has been presenting an ultra bullish pattern and emerging as a leading gaming asset.

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