- Uniswap sees a record number of active users on its platform.
- Users are flocking to Uniswap in search of new meme coins.
Uniswap Sets Record for Active Users: 15,000 ETH Burned
Uniswap, the decentralized finance platform, has seen a surge in activity on its Ethereum network. According to data from Dune Analytics, which provides data on blockchain and decentralized finance, Uniswap has reached a new record for the number of active users on its platform, surpassing 30 million.
Growth Rate Remains Below 2021 Record
Although the growth rate has increased due to the recent craze for meme coins, it has not yet reached the record set in May 2021. However, the number of users continues to increase.
Uniswap’s Airdrop Put it on the Map
Uniswap, the largest decentralized finance exchange, gained popularity in September 2020 with its airdrop. At the time, the platform had around 1 million users on the Ethereum network. Since then, Uniswap has expanded to several other networks, but Ethereum remains the most popular. According to Dune Analytics, the number of users on the Ethereum network continues to increase and has now surpassed 30 million.
15,000 ETH Burned in One Week
Uniswap’s impact on the Ethereum network is also evident in the number of Ether burned. Since the switch from Proof-of-Work to Proof-of-Stake with EIP 1559, Uniswap-linked contracts have burned over 15,000 ETH in the last seven days. This accounts for half of the total net Ether burned in the same period.
Uniswap’s Growth Rate
Uniswap has been growing steadily in popularity, especially in the past year. However, while the growth rate has increased due to the recent craze for meme coins, it has not yet reached the record set in May 2021.
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Uniswap’s Impact on Ethereum Network
Uniswap’s popularity is having an impact on the Ethereum network, particularly in terms of the amount of Ether being burned. Since the switch to Proof-of-Stake, Uniswap-linked contracts have burned a significant amount of Ether, highlighting the platform’s importance within the broader Ethereum ecosystem.
In summary, Uniswap’s popularity continues to rise, driven in part by the surge in meme coins. The platform’s impact on the Ethereum network is evident in the number of Ether being burned, and its expansion to other networks has also contributed to its growth.
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