The DeFi protocol, Uniswap, has overtaken, Coinbase Pro, in terms of daily volume for the very first time. This recent success in the day-to-day trading volume of Uniswap may directly be attributed to the continual growth of interest within ERC-20 tokens and, most especially, DeFi itself. This is because, as the general interest in DeFi grows, so too will its tokens, as participants must stake them to enter its respective protocols.
As per the most recent online statistics regarding the trading volumes of Uniswap, its recorded numbers sit firmly at over $441 million. That is an impressive 70% increase within a span of just a single day. On the other hand, Coinbase Pro’s daily volume records at over $373 million according to the data provided by CoinMarketCap. Although the numbers for the rivaling exchanges are impressive, it is still a way off compared to the daily trading volume being posted by Binance, which is approximately $6.5 billion.
Can DeFi sustain these recent successes?
The continual rise of DeFi has now landed on the point wherein it is more profitable to get a hold of DeFi tokens than it is to actually mine. As a matter of fact, with its current observable pace, DeFi is still expected to grow even more. This has led many to question whether the sector could still sustain this unprecedented growth moving forward.