A look at the DEX "big winners" in the "USDC crisis": Uniswap, Curve, SushiSwap

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A look at the DEX "big winners" in the "USDC crisis": Uniswap, Curve, SushiSwap

PANews

2023-03-13 08:03

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DEXs such as Uniswap, Curve Finance, and SushiSwap achieved impressive growth over the weekend.

Original author:Ambcrypto Suzuki Shillsalot

Original compilation: PANews

Original author:

Original compilation: PANews

According to DeFiLlama data, on March 11, the total transaction volume of DEX soared to 15.12 billion US dollars, setting a new high in the past four months, with a weekly growth rate of more than 100%. The ratio of aggregated DEX and centralized exchange (CEX) turnover (a metric that reflects the market dominance of DEXs) rose to 26.66%, the highest since 2019.

Which DEXs made a fortune in the "USDC crisis"?

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Uniswap, Curve Finance, SushiSwap emerge as 'big winners' amid market uncertainty

First, as a DEX designed for stablecoin exchange, Curve Finance set a record for the highest single-day transaction volume of nearly $8 billion in the past 24 hours. According to CryptoFees data, due to the surge in transaction volume, the fee income collected on the Curve platform also jumped to $952,000, setting a new high in the past four months.

Which DEXs made a fortune in the "USDC crisis"?

Followed by Uniswap, Uniswap is also one of the DEXs with the largest trading volume in the current encryption market. The transaction volume soared to $3.45 billion within 24 hours after USDC was unanchored, the best performance in the past four months. Transaction fees paid by Uniswap users also rose to $8.75 billion as of this writing, hitting a 10-month high.

Which DEXs made a fortune in the "USDC crisis"?

Another popular DEX is SushiSwap, which also saw a surge in activity during the USDC crisis and became one of the most used smart contracts by Ethereum whales.

However, according to DeFiLlama data, the average daily transaction volume of SushiSwap did not show a significant increase in the previous week. When this article was written, the transaction volume in the past 24 hours was 52.48 million US dollars, but it dropped by 76.76%.

Which DEXs made a fortune in the "USDC crisis"?

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The future belongs to DEX and DeFi?

In the past 3-4 years, DEX has achieved rapid development. The data disclosed by Token Terminal shows that the number of active developers on the DEX platform has been growing steadily, indicating that the fundamentals supporting the future of DeFi are good.

Which DEXs made a fortune in the "USDC crisis"?