DeFi Transactions Exceed $1 Billion in Seven Days

03/13/2023 02:07 • Tech Trends • 88 views

It is reported that according to the DEX data collected by Dune user @ hagaetc, the transaction volume of six DeFi agreements in the past seven days has exceeded US $1 billion, including Uniswap (about US $25.2 billion), Curve (about US $10.7 billion), Sushiswap (about US $3.6 billion), Pancakesswap (about US $1.4 billion), DODO (about US $1.3 billion) and Balancer (about US $1.1 billion). Uniswap’s single-day trading volume on March 11 exceeded $12.8 billion.

Over the past week, the trading volume of several DeFi agreements exceeded US $1 billion, and the trading volume of Uniswap exceeded US $12.8 billion per day

Analysis based on this information:

The report released by Dune user @hagaetc has revealed that the transaction volume of six decentralized finance (DeFi) protocols has exceeded $1 billion within the last seven days. The data collated from DEX has shown that the transactions involved in Uniswap, Curve, Sushiswap, Pancakesswap, DODO, and Balancer have contributed to the significant figure. Uniswap leads with the highest transaction volume valued at about $25.2 billion.

DeFi has transformed traditional finance by eliminating intermediaries and cutting down transaction fees. With a focus on smart contract protocols, it offers users transparency, efficiency, and autonomy. The surge in DeFi is attributed to the adoption of non-fungible tokens (NFTs) as well as the Ethereum network. The growth of DeFi is remarkable, and the recent report is evidence of the sector’s potential.

Uniswap is the DEX protocol with the highest trading volume, cementing its place as a leading DeFi agreement. The report shows that Uniswap’s single-day trading volume broke records by exceeding $12.8 billion. This success can be linked to the increase in NFTs on the Ethereum network, which has led to increased trading of tokenized assets.

Curve and Sushiswap have contributed $10.7 billion and $3.6 billion in transaction volume, respectively. They offer specific services such as yield farming and trading of stable coins. Pancakesswap has a transaction value of $1.4 billion, with DODO and Balancer following closely with $1.3 billion and $1.1 billion, respectively. The growth of DeFi protocols such as these has led to more adoption and investments from both retail and institutional investors.

In conclusion, the report by Dune user @hagaetc highlights the growth and potential of DeFi protocols. The transaction volume of the six protocols (Uniswap, Curve, Sushiswap, Pancakesswap, DODO, and Balancer) exceeding $1 billion within the last seven days is evidence of their success. The DeFi sector’s growth is a game-changer in traditional finance, and it is worthy of attention from stakeholders in the industry.

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