{"id":6107,"date":"2023-03-22T12:20:54","date_gmt":"2023-03-22T12:20:54","guid":{"rendered":"https:\/\/www.bitcoincasinos.com\/?p=6107"},"modified":"2023-03-23T06:32:33","modified_gmt":"2023-03-23T06:32:33","slug":"uniswaps-defi-transaction-fees-hit-an-ath-of-8-7m-following-usdcs-debacle","status":"publish","type":"post","link":"https:\/\/www.bitcoincasinos.com\/blog\/2023\/03\/22\/uniswaps-defi-transaction-fees-hit-an-ath-of-8-7m-following-usdcs-debacle\/","title":{"rendered":"Uniswap\u2019s DeFi Transaction Fees Hit an ATH of $8.7M Following USDC\u2019s Debacle"},"content":{"rendered":"
<\/a><\/p>\n Stablecoin USDC wreaked havoc across the crypto markets when it lost its peg to the dollar earlier this month. But, as other stablecoins felt the effects of the de-pegging, DeFi seems to be riding on the opportunity to make its comeback.\u00a0<\/span><\/p>\n Analysis conducted by <\/span>BitcoinCasinos.com<\/span><\/a> revealed a spike in transaction fees on the DeFi platform, Uniswap. The permissionless DEX had its trading fees at $8.748 million on 11th March 2023, setting a new ATH.\u00a0\u00a0<\/span><\/p>\n While commenting on the spike, the research lead at the site, Edith Reads, had this to say. \u201cUSDC\u2019s depeg caused panic, especially because of how things played out the last time a stablecoin went down the same road. Trading volumes spiked as holders rushed to swap their USDC tokens in case another LUNA disaster came up.\u201d<\/span><\/p>\n Transaction fees on <\/span>Uniswap<\/span><\/a> are distributed among liquidity providers in proportion to the number of tokens staked.\u00a0<\/span><\/p>\n <\/a><\/p>\n Further research reports showed that many DEX traders prefer the latest version of the protocol, Uniswap V3.\u00a0<\/span><\/p>\n On the same day, V3 registered most of the transaction fees on the exchange, totalling about $7.48 million. It is also the protocol with the highest average daily and weekly transaction fees at the time of press at $1.239M and $1.479M, respectively.\u00a0<\/span><\/p>\n Uniswap V3, launched in May 2021, is more secure, decentralized, and capital efficient, making it a favourite choice for frequent traders.\u00a0<\/span><\/p>\n Arbitrum One comes in second, while Uniswap V2 is the third highest in transaction fees on the DEX.\u00a0<\/span><\/p>\nLatest Uniswap Protocol is the Most Preferred Among Traders\u00a0<\/b><\/h2>\n
Markets Regain Optimism After USDC Regained its Dollar Peg<\/b><\/h2>\n