Uniswap, a decentralized token exchange protocol, has become the largest gas supplier on the Ethereum (ETH) blockchain network, overtaking the USDT stablecoin issuer — Tether.
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According to ETHGasStation, Uniswap now consumes over 17,500 ETH, while Tether consumes approximately 16,100 ETH.
The explosion in popularity of the DeFi products led to the fact that Uniswap also began to dominate in terms of trading volume among decentralized exchanges (DEX).
However, this explosive growth in popularity has also its drawbacks. Due to the fact that the project is decentralized, Uniswap is awash with various scam tokens that impersonate the real ones.
At the beginning of August, Uniswap's developers raised $11 million in investments, according to a report published by the US Securities and Exchange Commission (SEC).
In addition, between June 20 and July 20, trading volumes on the platform increased sevenfold, from $6,2 million to $43,7 million, while on July 27 they peaked at $120 million.
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