• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / DeFi / Uniswap Still The Top Dog, But SushiSwap Isn’t Far Behind
Uniswap Still The Top Dog, But SushiSwap Isn't Far Behind

Uniswap Still The Top Dog, But SushiSwap Isn’t Far Behind

February 22, 2021 by Chayanika Deka

Uniswap has held the title of champion for a long time. But what started as a simple fork has evolved into a serious challenger. Yes, we are talking about SushiSwap which has emerged as a potential rival and has grown from just a clone to the third-largest decentralized exchange [DEX].

Originally popped out as a fork of Uniswap v2, SushiSwap was deemed a ‘lost cause’ by several notable market players the platform’s Co-creator ‘Chef Nomi’ dumpped all of his SUSHI tokens on the market for $14 million worth of ETH.

It was not until ‘0xMaki’, who happens to be SushiSwap’s co-founder, took the responsibility to lead the project which helped it to come back on track and exceed other notable decentralized finance [DeFi] platforms.

defi 1

Months later, the market’s most popular duo is fighting against odds to retain their respective positions. According to DeFi Pulse, Uniswap was the second-largest DEX in terms of total value locked which was $4.13 billion. SushiSwap, on the other hand, stood at the third spot as mentioned earlier with a TVL of $3.60 billion.

Uniswap Wins But SushiSwap Emerges From The Ashes

newplot 2

In terms of market share, it is undoubtedly, Uniswap that has a clear lead with a whopping 54.8% trade volume while SushiSwap stands just right behind with 20.8%.

newplot 1

In addition to that, it was also found that over the past three weeks, Uniswap has averaged daily volume between $700 million and $1.35 billion. Simultaneously, SushiSwap showed an average daily volume of $300 million to $700 million.

Digging deeper, it was also observed that even as Uniswap continued to process twice as much volume as its rival, the monthly trend evidenced that SushiSwap has improved its figures to become a strong competitor.

Both the platforms’ governance token has also reached new all-time highs amid the bull season. What’s even more interesting is that both the DEXs have witnessed their goals diverge despite their controversial entry into the DeFi ecosystem. And while Uniswap still takes a lead, SushiSwap’s growth in the past several months cannot be ignored.

Filed Under: DeFi, News Tagged With: DEX, SUSHI, sushiswap, UNI, Uniswap

Primary Sidebar

Recent Posts

  • Chainlink [LINK] Surges Close To $30; Eyes At A Relief Rally March 3, 2021
  • Coinbase Custody Accrued 11% of Collective Crypto Capitalization In 2020 March 3, 2021
  • After Mary Hard Fork, Cardano Is Now A Multi-Asset Blockchain March 2, 2021
  • CryptoGames –Spectacular Games, Invulnerable Security, Swift Transactions and Much More! March 2, 2021
  • Google Finance Adds ‘Crypto’ Tab featuring Bitcoin, Litecoin, Ethereum, Bitcoin Cash March 2, 2021


Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2021 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.