Uniswap

<ul><li>dYdX&#39;s version 4 on Cosmos records $757 million in 24-hour trading, outperforming Uniswap and its own previous Ethereum-based version.</li><li>The total trade volume of dYdX v4 since its launch has reached $17.8 billion, highlighting the platform&#39;s robust market performance in 2023.</li><li>Benefiting from lower transaction costs and high throughput on the Cosmos network, dYdX leads in perpetual futures trading.</li></ul>dYdX, a key player in the decentralized exchange (DEX) arena, has recently outpaced Uniswap in terms of daily trading volumes, marking a significant achievement. This milestone follows the exchange&#39;s strategic decision to <a href="https://medium.com/cosmostation/dydx-migration-guide-2af37f95def5" rel="noopener noreferrer nofollow">migrate</a> from the Ethereum blockchain to the Cosmos network.According to the <a href="https://coinmarketcap.com/rankings/exchanges/dex/" rel="noopener noreferrer nofollow">latest data</a> from CoinMarketCap, dYdX&#39;s Cosmos-based version 4 (v4) experienced a remarkable trading volume of $757 million within a 24-hour period. The data indicated that dYdX has exceeded Uniswap v3 and its own Ethereum-based version 3 (v3) which acquired $608 million and $567 million in trades respectively. Since the launch of dYdX v4, the platform has amassed an impressive total trade volume of $17.8 billion, underscoring its strong performance. The year 2023 was particularly notable for dYdX v3, which recorded <a href="https://dydx.exchange/blog/1trillion-trading-volume" rel="noopener noreferrer nofollow">over $1 trillion</a> in trading volume.dYdX has been at the <a href="https://cryptotale.org/whats-driving-the-dydx-tokens-impressive-price-rally/" rel="noopener noreferrer nofollow">forefront</a> of offering perpetual futures trading, a type of contract without an expiry date. This strategy allows traders to speculate on the price fluctuations of underlying assets without the need for actual physical delivery, a characteristic of traditional futures trading.Paul Veradittakit from Pantera Capital <a href="https://www.veradiverdict.com/p/dydx" rel="noopener noreferrer nofollow">commented</a> on the growing popularity of platforms like dYdX. He emphasized the DeFi sector&#39;s demand for high throughput and continuous trading capabilities. Veradittakit pointed out that <a href="https://cryptotale.org/polygons-price-slides-below-key-supply-zone-amid-elevated-gas-fees/" rel="noopener noreferrer nofollow">high transaction fees</a>, commonly known as &#39;gas fees&#39; on networks like Ethereum, can significantly reduce user profits and the appeal of such platforms.Read full article at <a href="https://cryptotale.org/dydx-outshines-uniswap-with-record-757-million-trading-volume-in-a-day/" rel="noopener noreferrer nofollow">CryptoTale.</a>

dYdX Outshines Uniswap with Record $757 Million Trading Volume in a Day

CryptoTale

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