🚀 Uniswap’s Layer 2: Skyrocketing Users and Falling Volume 📉
Uniswap’s user count on Layer 2 networks has seen an explosive rise, with a 350% increase in July compared to June. Unique addresses surged from 1.82 million in May to an impressive 8.93 million in July, driven by major L2s like Arbitrum, Base, Optimism, Polygon, zkSync, and Zora.
However, despite this surge in users, Uniswap's trading volume has been on a steady decline, dropping 39% from May to July.
This disconnect between user growth and volume suggests a potential rise in low-value transactions and possible Sybil activity, especially on Coinbase's L2 Base.
While this growth is significant, it's important to view these numbers with a bit of caution.
📉 What does this mean for Uniswap and the broader DeFi ecosystem? Is this a sign of genuine growth, or is it inflated by speculative activities? Show Less
