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ETH$4 325.04

6.69%

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BNB$609.29

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


29 Mar 2021

#UniSwap

Uniswap is currently the second-ranked crypto platform by daily fee generation after Ethereum. 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.

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 average.

ETH Gas Station reports that Uniswap is the largest gas guzzler in the industry, generating a whopping $2 million in Ethereum fees over the past 30 days. The Tether stablecoin takes second place for gas usage with $1.65 million generated over the same period. These high fees have made Ethereum-powered DeFi inaccessible to many newcomers, driving some users to cheaper alternatives such as the Binance Smart Chain-powered PancakeSwap DEX. As reported by Cointelegraph, PancakeSwap is eating into Uniswap’s market dominance.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 77.6% 42 $57 397.14 5.51% -0.13% $1 084 001 374 692 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 78.8% 32 $4 325.04 6.69% 3.38% $512 656 495 446 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 73.6% 53 $609.29 4.33% 7.07% $101 630 227 689 BNB 7 days price change
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5 Solana (SOL) SOL Solana predictions 69.2% 65 $203.84 7.44% -8.23% $61 976 513 439 SOL 7 days price change
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7 XRP (XRP) XRP XRP predictions 74.8% 51 $0.987767 7.45% -5.41% $46 582 102 093 XRP 7 days price change
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11 Avalanche (AVAX) AVAX Avalanche predictions 62% 75 $112.35 3.84% -16.51% $25 147 340 195 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 63.2% 77 $0.000039 3.61% -9.86% $21 537 353 661 SHIB 7 days price change
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14 Terra (LUNA) LUNA Terra predictions 62.8% 72 $49.02 8.15% 18.38% $19 258 363 664 LUNA 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 78% 46 $56 525.74 5.34% -1.06% $14 327 926 572 WBTC 7 days price change

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