Following the meteoric gains seen by some of the top assets within the sector, return hungry investors have begun setting their sights on smaller “gems” – leading to a massive influx of new users to decentralized trading platforms like Uniswap.
Furthermore, some of the most popular DeFi crypto tokens are only readily available on this platform, which has resulted in it seeing massive inflows of liquidity in recent weeks.
Now, one popular trading platform has created a “Uniswap Index” that allows traders to invest and trade a pool of the top 100 tokens on the platform.
Crypto platform FTX lists “Uniswap Index” as DeFi mania continues
Much to the surprise of some skeptics, investors are still pouring capital into the decentralized finance sector at a rapid rate.
Unlike previous fads within the crypto market – like ICOs and IEOs – the protocols that are being highly valued by investors have working products and actual utility.
Because the yields offered on these protocols can be quite high, users have been directing serious amounts of capital to various pools within the ecosystem.
As the total value locked within these protocols grows, so does the value of the governance tokens attached to them.
is now launching a “Uniswap Index” that allows investors and traders to gain exposure to the top 100 coins on Uniswap.
The new trading product was announced earlier today in a blog post, in which they also note that stablecoins were not included in the index.
Uniswap volume and liquidity continues seeing a parabolic ascent
The popularity of Uniswap has reached a boiling point, with both trading volume and liquidity on the platform seeing parabolic growth throughout the past few weeks.
According to uniswap.info, liquidity across all the pools on the platform currently sits at just under $300 million. This marks a massive rise from the liquidity that was seen at the start of June, when it was sitting at just over $20 million.
On a similar note, the 24-hour trading volume on the platform has also exploded higher in recent weeks. Currently, this metric is sitting at $100 million, which marks a decline from all-time highs of $215 million that were set just a few days ago.
As awareness of decentralized platforms like Uniswap continues growing, there’s a high likelihood that the platform’s liquidity and volume will continue extending its parabolic ascent.
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at firstname.lastname@example.org