Uniswap v3 and v2 bypass Bitcoin miners’ income

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The world’s largest decentralized exchange continues to gain traction, and the recently launched third iteration surpassed the second in daily volumes.

In addition to v3 exceeding v2’s daily transaction volumes, both versions outperformed Bitcoin in terms of daily commission generation. Uniswap founder Hayden Adams wrote about this, talking about the excess of daily and weekly fees, bitcoin miners.

Cryptofees data showed that Uniswap v3, launched on May 5, generated $ 4.5 million, and v2 generated $ 3.8 million in daily commissions. Bitcoin lagged behind both with $ 3.7 million in daily fees.

At the time of writing, the site reported that Uniswap v3 generated $ 4.1 million in a 24-hour period, while v2 is in second place with $ 3.2 million.SushiSwap is the next largest DEX after Uniswap with $ 2.135 million. The figures for bitcoin and ether for the last 24 hours were not available, but for the previous day the commission for bitcoin was $ 2.821 million, Ethereum – $ 28.71 million.

Critics often accuse Uniswap of Ethereum’s high gas fees, but they are actually exchange fees paid to liquidity providers, not gas fees.

In terms of daily transaction volumes, v3 surpassed v2 from $ 1.48 billion in the last 24 hours, according to the Uniswap analytics page. Version 2 reported $ 1.1 billion in daily volume. In total blocked value, v2 still dominates with $ 5.8 billion, up from $ 1.46 billion on v3.

The success of Uniswap is so obvious that it was noticed by the financial industry bible The Wall Street Journal, who wrote that DEX and similar projects pose a growing threat to Coinbase. In a May 24 posting, Uniswap’s volume was $ 36.6 billion in April, up from $ 110 billion on Coinbase.

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