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DeFi summer 3.0? Uniswap overtakes Ethereum on fees, DeFi outperforms

Decentralized exchange (DEX) Uniswap has overtaken its host blockchain Ethereum in terms of fees paid over a seven-day rolling average.

The surge appears part of a recent spate of high demand for DeFi amid the current bear market. Decentralized finance (DeFi) platforms such as AAVE and Synthetix have seen surges in fees paid over the past seven days, while their native tokens, and others such as Compound (COMP) have also boomed in price too.

According to data from Crypto Fees, traders on Uniswap accounted for an average daily total of $4.87 million worth of fees between June 15 and June 21, overtaking the average fees from Ethereum users which accounted for $4.58 million.

Uniswap’s most advanced V3 protocol (based on the Ethereum mainnet) accounted for the lion’s share of the total fees with $4.4 million, while the V2 variant also contributed a notable $336,556.

During this period, Ethereum’s total fees only outpaced

Keep reading this article on Cointelegraph.com.

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