Uniswap topped Augustâs record high trading volume in the first 10 days of September, reaching $6,729,691,041 mid-morning on Thursday, leaving almost three weeks to push further into record territory.
Last monthâs $6.7 billion in traded volume was the leading decentralized exchangeâs fourth consecutive all-time monthly high, as CoinDesk previously reported.
Curve, the second-largest decentralized exchange by traded volume, also surpassed Augustâs record of $1.87 billion Thursday, reaching $1.9 billion, according to Dune Analytics.
Liquidity on Uniswap, however, has dropped by over 60% to $619 million since Tuesday as the popular SushiSwap project successfully migrated from Uniswap to FTXâs decentralized exchange, Serum.
Coinciding with Uniswapâs exponential volume growth, market sentiment analysis by cryptocurrency research firm Markets Science shows similar increases in excitement over Ethereum and decentralized finance (DeFi).
Uniswap monthly volume since October 2019
Source: Dune Analytics, CoinDesk Research
For example, both the quantity of tweets referencing Ethereum and the percentage of those tweets coming from unique Twitter users have steadily increased over the past three months, reaching yearly highs toward the beginning of September, the Markets Science analysis shows.
Even as decentralized exchange volumes continue to grow, Ethereum transaction fees have dropped 75% from their record highs of $15.21 on Sept. 2.
The average transaction fee was $3.86 Thursday, according to Blockchair.
Notably, Uniswap is one of the few decentralized trading platforms without its own token. Still, funding shouldn't be a problem as on Aug. 6 founder Hayden Adams announced the completion of an $11 million Series A round led by Andreessen Horowitz.
