Uniswap's first-quarter volume swelled more than 225% compared to Q4 2019
May 17, 2020, 11:59AM EDT
1 min read
Uniswap, the non-custodial, automated market-maker exchange protocol, saw it's quarter-over-quarter volume surge by over 225% between Q4 2019 and Q1 2020.
A good portion of that boost, perhaps unsurprisingly, came in the form of 'Black Thursday,' the mid-March crypto market event that saw the price of bitcoin, ether and other cryptocurrencies swing significantly. Uniswap saw an all-time monthly high of $191.4m in March.
Volumes then fell roughly 60% in April ($77.3m). May, according to available data, is on course to see around $100m in protocol volume.
Source: The Block, Dune Analytics
As noted by The Block's Matteo Leibowitz, markets for three assets –DAI, USDC, and MKR markets – continue to comprise a majority of trading. In April, the three assets alone comprised roughly 72% of all volume.
The busy quarter comes as the release of Uniswap's v2 approaches. As The Block previously reported, the new version will introduce features like ERC20 pairs, more manipulation-resilient price oracles and flash swaps.
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