Uniswap has become the premier decentralized trading spot for users since the beginning of 2023, surpassing Coinbase in terms of spot trading volumes. Uniswap facilitated up to $150 billion in trading volume in Q1 of 2023, while Coinbase came out at $145 billion worth of trades. Uniswap also dominated in Q2 of 2023, surpassing Coinbase with close to $20 billion at the end of Q2 of 2023.The rise of Uniswap can be attributed to the de-peg of USDC and other stablecoins, as traders turned to on-chain trading venues during the period of uncertainty. Despite the decline in trading volume since then, Uniswap still managed to be ahead of the largest crypto exchange in the United States.Centralized exchanges (CEXes) remain suitable for users who do not want self-custody and for operators who need jurisdictional compliance, as well as the less technologically savvy who find decentralized finance (DeFi) difficult to navigate. However, decentralized exchanges (DEXes) offer numerous benefits such as permissionless trading, increased privacy, and lesser reliance on intermediaries, making more traders embrace these protocols for executing trades.The security of DEXes has also taken center stage, as CEXes have lost billions of dollars in several waves of attacks such as hacks, fraud, and regulatory overreach, while DEXes have not been left out as over $3.3 billion have been stolen from DeFi protocols in the last few years. Despite the hoops they have to go through, investors are choosing the decentralized option, suggesting that the interchain infrastructural improvement of DEXes gives investors the ability to trade new and novel tokens without waiting for an exchange listing.

Information	Details
Geography	North America
Countries	🇺🇸 🇨🇦
Sentiment	neutral
Relevance Score	10
People	Ryan Rasmussen, Jacob Joseph,
Companies	Coinbase, Uniswap, Bitwise, X, DeFi
Currencies	USDC, Ethereum, Bitcoin, Uniswap, Coinbase.
Securities	None