Minswap, the largest decentralized exchange on Cardano, has seen a surge in various metrics after months of low activity. According to DappRadar, Minswap’s unique active wallets and transaction count increased by 89.85% and 63.05%, respectively, over the past seven days. The volume was also up by 16%. During the same period, Minswap added 11.29k unique active wallets, 129.59k transactions, and $592.08 million in trading volume. The spike was mainly due to activity on September 24th, when the volume of the DEX surged to $6.86 million, with unique active wallets climbing above 5.4k and the transaction count hitting 35.96k. This could potentially boost the prices of Minswap’s native MIN tokens, which generate value from platform usage and are used as a governance token. The surge coincided with the launch of the ADA/JPG trading pair, which was made available to users on the decentralized exchange. The last prominent spike was in May when the figures for all three metrics registered new all-time highs. Minswap continued to hold its position as the liquidity king of Cardano DeFi, ending the second quarter of the year with a total value locked (TVL) of approximately $50 million and a dominance of more than 32%. The figures have since dropped, and TVL is currently stuck near $40 million.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | None |
| Companies | Binance, DappRadar, DeFiLlama, Minswap, PrimeXBT |
| Currencies | Bitcoin, MINDOL, Cardano, JPG NFT Index |
| Securities | None |
