Summary
The decentralized exchange (DEX) dYdX has surpassed Uniswap in daily trading volume after transitioning from Ethereum to Cosmos with the launch of its v4 platform. On January 11, dYdX’s v4 market on Cosmos recorded a trading volume of $1.07 billion, outpacing both Uniswap v3 and its own v3 market on Ethereum.
Introduction
dYdX, a leading DEX, has achieved a significant milestone by surpassing Uniswap in daily trading volume. This achievement comes after dYdX shifted from Ethereum to Cosmos with the launch of its v4 platform. Initially met with skepticism, dYdX’s decision to transition has been validated by its impressive trading volume numbers.
Main Points
- dYdX’s v4 market on Cosmos recorded a trading volume of $1.07 billion on January 11.
- In the last 24 hours, dYdX had a trading volume of $613 million, surpassing Uniswap v3’s $492 million and its own v3 market on Ethereum, which recorded $473 million in trades.
- dYdX’s v4 platform has accumulated a trading volume of $18.5 billion since its launch.
- dYdX’s v3 market on Ethereum achieved a milestone of over $1 trillion in annual trading volume.
- The native cryptocurrency of dYdX, DYDX, has experienced an 11% surge in the past 24 hours and a daily trading volume of $538 million.
Conclusion
dYdX’s successful transition to the Cosmos ecosystem and its impressive trading volume numbers have solidified its position as a leader in the decentralized finance (DeFi) space. This milestone marks a potential turning point in the industry, prompting participants to reconsider their strategies and evaluate the implications of blockchain ecosystem choices.