- CZ called the ruling as “extremely positive”.
- DEX share in the total crypto spot trading market rose to 17.7%.
Decentralized exchange (DEX) Uniswap’s [UNI] recent legal victory was unanimously hailed by the crypto world, and more specifically, the decentralized finance (DeFi) proponents.
Is your portfolio green? Check out the UNI Profit Calculator
The decisive verdict, based on developers’ non-culpability for criminal actors’ usage of decentralized networks, was being seen as a major bullish trigger for DeFi investments in the future.
CZ gives thumbs up to DeFi
The latest to acknowledge the importance of the event was none other than Binance CEO Changpeng “CZ” Zhao. In a recent AMA session hosted on Twitter, the crypto czar called the ruling as “extremely positive”.
CZ was responding to a question by an X user, DeFi Vas. At about 7:05 minutes into the AMA, he said,
“A developer writing code is basically free speech. So, I think that that development is really good.”
The Binance boss then went on to express his support for DeFi and predicted big wins for the sector in the near future.
At about 7:20 minutes into the AMA, he mentioned,
“As I have said many times before, I think DeFi is the future. I think DeFi volumes are like somewhere between 5 to 10% of CeFi volumes which is not small. The next bull run may very well make DeFi bigger than the CeFi.”
Uniswap leads the charge
CZ’s assertion was rooted in the industry’s latest exploits. The largest and most popular DEX Uniswap outperformed centralized behemoth Coinbase in spot trading volumes in the first two quarters of 2023.
As of this writing, DEXs recorded trades worth nearly $12 billion over the last one week, according to DeFiLlama. DEX share in the total crypto spot trading market was 17.7%.
Uniswap accounted for 43% of the total share and was in fact the only major DEX to have seen a weekly increase in volumes.
Source: DeFiLlama
How many are 1,10,100 UNIs worth today?
In a blog post, Uniswap stated that it would roll out its next iteration, V4, after the Ethereum [ETH] Dencun upgrade.
Uniswap unveiled the vision of V4 earlier in the year, which was set to advance things further by introducing the idea of customizable liquidity through the usage of “hooks”.
2/ Wen v4? You asked, & we answered ?
Uniswap v4, coming after the Dencun upgrade, will open up possibilities for how liquidity is created & tokens are traded onchain ⛓️
It’s been inspiring connecting with developers… we’ve heard SO MANY?ideas! ?https://t.co/YBcNWFErnV
— Uniswap Labs ? (@Uniswap) September 1, 2023
