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HomeCryptoCurve, Uniswap and SushiSwap compete as DEX fees continue to fall money...

Curve, Uniswap and SushiSwap compete as DEX fees continue to fall money moguls


  • DEX fees decrease as competition increases.
  • Despite the evolution of the protocol, the coin continues to face the heat.

According to data provided by Messari, DEX fees have dropped significantly over time. This drop in fees will help DEXs like uniswapCurve and SushiSwap attract more users to their respective protocols.

The drop in fees is also a sign of increasing competition between the various DEXs.

Read the Uniswap price prediction 2023-2024

dex battle

However, overall volume has continued to grow across all DEX platforms, despite increasing competition among decentralized exchanges.

Source: Dune Analytics

Uniswap has managed to benefit the most from the growth of the DEX space. According to data from Dune Analytics, Uniswap’s market share was observed to increase from 52% to 72% over the past month.

The number of Uniswap users also increased during this period, increasing by 0.11%. The total number of unique users on the protocol increased to 453,441 at press time.

however, sushi exchange, It outperformed Uniswap in this area. The number of unique users on the SushiSwap protocol increased by 0.5% with 666,382 new users joining last month.

While these two DEXs managed to acquire new users and capitalize on growth, the same cannot be said for the Curve finance protocol.

It also saw a 0.31% drop in the number of unique users last month.

However, Curve managed to increase its revenue by 0.3%. Well, Uniswap also saw 0.68% growth in terms of revenue.

How much is 1,10,100 sushi? worth today?

However, SushiSwap was unable to generate the same revenue growth. At press time, its revenue last month was $5.32 million, down 0.33%.

no effect on token

On the other hand, Sushi, UNI and CRV saw a drop in network growth. suggesting that the new addresses were losing interest in the token.

Also, at press time, whale interest in these tokens had started to wane. Because of this, the percentage of large addresses that have Sushi, UNI, and CRV has decreased.

Source: Feeling

Another area where these DEXs ran into trouble was the futures and derivatives market. According to data from Delphi Digitals, CEX still dominates the majority of the options market.

Ultimately, although DEXs have made great strides, they still have many problems to overcome before they can compete with centralized exchanges.


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