Uniswap Beats Bitcoin By $1.7 Million Gap in Daily Fees
Ethereum is number one in a chart that estimates generating daily fees. Uniswap goes second, making almost twice more daily fee than Bitcoin does. The first world’s decentralized Ethereum-powered exchange generated more than $4.8 million worth fee within the last 24 hours. Bitcoin managed to do only $3.1 million.
How did they do it? All because of Ethereum’s use. Their fees are notoriously costly, and naturally Uniswap’s fees grow as well. However, Ethereum states that Uniswap is their biggest gas spender generating $2 millions in fees within the last month.
Unfortunately, the cost of Ethereum’s transaction doesn’t make the space very inclusive. The newcomers who can’t afford it, seek for cheaper options like PancakeSwap by Binance. Therefore, soon this decentralized exchange is expected to grow into a serious rival for Uniswap and dominate the market.