Decentralized finance (DeFi) has recorded a huge milestone through Uniswap that has processed over $100 billion through its decentralized exchange. The cumulative trading volume of the automated market maker went past this milestone earlier today and was announced by its founder, Hayden Adams, through a tweet.
Since it was founded, the pioneer decentralized exchange has been breaking barriers and setting new records in the field. As of last year December, it passed the $50 billion milestone and also began the year very strongly. The protocol processed over $20 billion in transactions for January alone, meaning it was effortlessly processing over $1million in transactions per day.
At its current pace, it could just be able to surge past $4 billion in total value locked in the protocol. Notably, decentralized exchanges cumulatively processed over $55 billion in trade volumes for last month and over half of this was processed on the number DEX.
The DEX platform has also been able to comfortably outperform major centralized exchanges like Coinbase effortlessly. And its native token, UNI, has also recorded tremendous growth since the beginning of this year. It would be recalled that the token’s value was on a decline around September last year. However, since this year began, the general crypto industry bull run has lifted it and it has recorded a growth of over 350% till date.