Uniswap was only recently deployed on Polygon, but many people think they are made for each other. Here’s what you need to know about their compatibility so far.
Perfect couple?
Uniswap was deployed to Polygon in December 2021. However, a few weeks later, the DeFi protocol quickly captured market share on the platform. From about 20% in one week to nearly 30% in two weeks, Uniswap holds about 45% market share of Polygon at the time of writing Messages our network.
Looking at Total Value Locked (TVL), this metric surged in February 2022, reaching $139.3 million on February 18.
Source: DeFi Llama
Analyst Derek Walkush noted:
“Uniswap TVL on Polygon has doubled in the last 2 weeks and is currently around $140 million. This growth is still behind other platforms in the industry, such as QuickSwap’s TVL and Sushiswap at ~$800 million and ~$280 million, respectively.
Is it time to rejoice?
Uniswap is not the only project benefiting from this relationship. In fact, Polygon had 2.36 million addresses as of the past month. Polygon also seems to be a big hit with gamers, with 7 titles reaching over 10,000 monthly active users. Sunflower Farmers is a prime example, even if its hype leads to a sales imbalance.
However, when looking at Polygon’s largest dApps (decentralized applications) by number of users, such as QuickSwap, Sunflower Farm, and SushiSwap, it far surpasses Uniswap with 16,600 users last week.
Meanwhile, Uniswap’s daily unique users have steadily declined since August 2021. 2022 was particularly reduced and on February 19 there were only 16 unique users. Not a real winning project!
Source: dune analysis
Additionally, UNI p has lost about $485 million since February 1st. This is apparently so serious that even Uniswap whales decided to give up. Additionally, the network’s growth rate hit a 17-month low.
At press time, Polygons MATIC is changing hands at $1.61, up nearly 6% over the past 24 hours and down 4% in 7 days.
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Are Uniswap and Polygon a perfect match?
Uniswap was only recently deployed on Polygon, but many people think they are made for each other. Here’s what you need to know about their compatibility so far.
Perfect couple?
Uniswap was deployed to Polygon in December 2021. However, a few weeks later, the DeFi protocol quickly captured market share on the platform. From about 20% in one week to nearly 30% in two weeks, Uniswap holds about 45% market share of Polygon at the time of writing Messages our network.
Looking at Total Value Locked (TVL), this metric surged in February 2022, reaching $139.3 million on February 18.
Source: DeFi Llama
Analyst Derek Walkush noted:
“Uniswap TVL on Polygon has doubled in the last 2 weeks and is currently around $140 million. This growth is still behind other platforms in the industry, such as QuickSwap’s TVL and Sushiswap at ~$800 million and ~$280 million, respectively.
Is it time to rejoice?
Uniswap is not the only project benefiting from this relationship. In fact, Polygon had 2.36 million addresses as of the past month. Polygon also seems to be a big hit with gamers, with 7 titles reaching over 10,000 monthly active users. Sunflower Farmers is a prime example, even if its hype leads to a sales imbalance.
However, when looking at Polygon’s largest dApps (decentralized applications) by number of users, such as QuickSwap, Sunflower Farm, and SushiSwap, it far surpasses Uniswap with 16,600 users last week.
Meanwhile, Uniswap’s daily unique users have steadily declined since August 2021. 2022 was particularly reduced and on February 19 there were only 16 unique users. Not a real winning project!
Source: dune analysis
Additionally, UNI p has lost about $485 million since February 1st. This is apparently so serious that even Uniswap whales decided to give up. Additionally, the network’s growth rate hit a 17-month low.
At press time, Polygons MATIC is changing hands at $1.61, up nearly 6% over the past 24 hours and down 4% in 7 days.
Join CoinCu Telegram to keep track of news:Â https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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