September 26, 2021

Uniswap’s daily fee generation tops Bitcoin’s by $1.7 million

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The world’s top decentralized exchange, Uniswap, is currently beating out Bitcoin’s daily fee generation by more than 50%.

According to the data tracking website, CryptoFees, the leading Ethereum-powered decentralized exchange Uniswap has generated more than $4.8 million worth of fees over the past 24 hours. This has propelled the automated market maker into second place above Bitcoin — which has generated just $3.1 million.

The top network by daily fees is Ethereum with $16.5 million — which beats out the other 30 other networks tracked by CryptoFees combined.

It appears Uniswap’s dominance over Bitcoin may be short-lived, with Bitcoin beating out Uniswap for daily fees averaged over the past seven days by nearly 20% — with BTC pushing $4.15 million compared to Uniswap’s $3.5 million.

Image – cryptofees.info

Uniswap’s high fees are a product of Ethereum’s exorbitant gas prices, with mainnet transaction fees currently sitting at $13.60 on average, according to BitInfoCharts. According to Etherscan, token swaps on Uniswap currently cost $33.68 on averageTitle: Uniswap’s daily fee generation tops Bitcoin’s by $1.7 million
Sourced From: cointelegraph.com/news/uniswap-s-daily-fee-generation-tops-bitcoin-by-1-7-million
Published Date: Mon, 29 Mar 2021 06:45:38 +0100