Bitcoin
BTC$29 061.38

-3.12%

Ethereum
ETH$1 945.79

-4.82%

Tether
USDT$0.998827

-0.02%

USD Coin
USDC$1.000289

0.01%

Binance Coin
BNB$295.81

-1.43%

XRP
XRP$0.402156

-6.01%

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.


Related

Uniswap (UNI) gains nearly 50% in 24 hours
Uniswap (UNI) gains nearly 50% in 24 hours
Uniswap has now generated more than $1B in fees for liquidity providers
Uniswap has now generated more than $1B in fees for liquidity providers
Uniswap v3 launches Optimistic Ethereum layer two scaling in alpha
Uniswap v3 launches Optimistic Ethereum layer two scaling in alpha
CoinMarketCap launches Ethereum token swaps powered by Uniswap
CoinMarketCap launches Ethereum token swaps powered by Uniswap
DeFi bucks crypto market correction as Uniswap v3 leads the charge
DeFi bucks crypto market correction as Uniswap v3 leads the charge
Uniswap v3 looks set for layer-two scaling on both Arbitrum and Optimism
Uniswap v3 looks set for layer-two scaling on both Arbitrum and Optimism
Uniswap v3 flips v2 on volume and both versions flip Bitcoin on fee revenue
Uniswap v3 flips v2 on volume and both versions flip Bitcoin on fee revenue
Uniswap flips Bitcoin on daily revenue, and it’s more impressive than you think
Uniswap flips Bitcoin on daily revenue, and it’s more impressive than you think
Will the launch of Uniswap v3 spark a new DeFi boom?
Will the launch of Uniswap v3 spark a new DeFi boom?

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 62.4% 82 $29 061.38 -3.12% 8.51% $553 437 248 437 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 60.4% 82 $1 945.79 -4.82% 7.60% $235 121 509 369 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.6% 1 $0.998827 -0.02% 1.30% $74 126 138 317 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 92% 1 $1.000289 0.01% -0.07% $52 357 980 078 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 60.4% 84 $295.81 -1.43% 29.99% $48 299 672 655 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 67.2% 71 $0.402156 -6.01% 13.86% $19 441 465 904 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 92% 1 $1.001637 0.15% -0.51% $18 442 645 566 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 65.2% 79 $0.507175 -10.38% 24.64% $17 118 441 820 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 63.2% 84 $50.46 -9.61% 21.41% $17 028 947 492 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62% 87 $0.084029 -5.92% 15.94% $11 148 185 698 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 60.4% 78 $9.56 -9.71% 24.98% $9 442 068 849 DOT 7 days price change
12 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 63.6% 82 $29 050.66 -2.98% 8.69% $8 132 816 754 WBTC 7 days price change
13 Avalanche (AVAX) AVAX Avalanche predictions 61.6% 82 $28.87 -14.48% 10.65% $7 769 271 253 AVAX 7 days price change
14 TRON (TRX) TRX TRON predictions 70.8% 55 $0.071382 -0.71% -2.34% $6 964 115 705 TRX 7 days price change
15 Dai (DAI) DAI Dai predictions 93.6% 1 $1.000090 0% 0.05% $6 501 036 897 DAI 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.