PancakeSwap Overtakes UniSwap In Daily Trading Volume
Is this a direct result of out of control ETH fees?
BSC strikes again! As users are flocking to alternative DEXes offering fee's at a fraction of the price. I completely understand, and it makes total sense for smaller swaps where a large fee could eat a significant hole in your bag.
I definitely still have some friends who are loyal to UniSwap, and they really aren't that concerned about $100 fees to stake coins. They might wait it out to find a lower fee from the exchange but they'll pay through the nose and not give a shit.
Move Over UniSwap
There's a new player in town! As of today PancakeSwap is doing $1,553,750,412 in 24h Trading Volume! Compared to UniSwap that's doing $1,427,176,218 in 24h Trading Volume.
1.6B vs 1.4B, it's still close but I have to imagine that this gap is only going to continue to grow.
For people used to operating on the ETH ecosystem and really appreciate that it's Decentralized, which is important, I can understand why some are slow to make the switch and may not at all. Moving over to the BSC ecosystem takes a few extra steps to get started, plus some of the coins you trade on Uni might not be on Pancake.. or at least not with the volume you're looking for.
But a good amount of them probably are, most of the stablecoins are there, and lots of the DeFi tokens are there too. I think it's this reason in particular that's been driving the adoption, in tandem with offering lower fees ofcourse.
The surge in Defi interest has really done wonders for the PancakeSwap exchange.
PancakeSwap vs UniSwap
PancakeSwap
- Decentralized
- Binance Smart Chain
- 216 coins & 877 trading pairs
- 1.6B Daily trading volume
- Established in 2020
UniSwap
- Decentralized
- Ethereum
- 1611 coins & 2174 trading pairs
- 1.4B Daily trading volume
- Established in 2018
In a matter of only months PancakeSwap has been able to match UniSwap which is quit incredible in my opinion, and I'm sure they are now taking market share away.
But looking at overall volume on the year, all signs still pint up up and away for Uni.
Have you moved over to PancakeSwap for lower fees? Let me know what's up below..
Ciao for now,
Posted Using LeoFinance Beta
