- Curve’s position among DEXes could be threatened, and Uniswap may take advantage.
- CRV shorts dominated the derivatives market while traders longed UNI.
With Curve Finance’s [CRV] recent setbacks, Uniswap [UNI] could extend its market share since both protocols operated in the same realm. On 30 July, Curve was subject to a number of exploits, which drove the market to question the security of the automated market-making on the protocol.
Realistic or not, here’s CRV’s market cap in UNI terms
Uniswap: Ahead of the Curve
Uniswap has been ahead of Curve for a long time, while dominating the Decentralized Exchange (DEX) space. According to Token Terminal, Curve was way below Uniswap in terms of DEX volume dominance.
Uniswap, on the other hand, could boast of a186.5% hike in total trading volume in the last 24 hours. Also, net deposits on the protocol exceedingly overrode every other DEX project.
This hike in net deposits showed that the rate of re-invested deposits on Uniswap outpaced other protocols. As a result, total fees generated by Uniswap reached $1.3 million — an 82.1% increase in the last 24 hours.
On looking at the tokens associated with both projects, there was a glaring disparity in sentiment. Here,
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Author: Victor Olanrewaju
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