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Soaring decentralized exchange volume suggests the DeFi craze is not over

Published 09/28/2020, 06:47 PM
Updated 09/28/2020, 08:20 PM
Soaring decentralized exchange volume suggests the DeFi craze is not over

Uniswap, the most widely utilized decentralized exchange on Ethereum, has seen explosive growth throughout the second quarter. In fact, less than a month ago, Uniswap’s trading volume surpassed Coinbase Pro as the exchange processed $426 million worth of trades in a 24 hour span.

Throughout 2019, the decentralized finance (DeFi) market was relatively stagnant until the concept of yield farming and governance tokens became more popular. Yield farming is a process where investors utilize various DeFi protocols that generate high yield in exchange for providing liquidity.

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