The Wall Street Journal wrote a piece earlier today about Uniswap and how the decentralized exchange claims to provide better services than Coinbase.
Uniswap gets special coverage on the WSJ
The Wall Street Journal is one of the most reputable news platforms in the global financial markets. It covers the latest news in the world of business, finance, markets, and more. With millions of readers globally, the Wall Street Journal is one of the most prestigious financial markets media outlets in the world.
The platform wrote a piece on decentralized exchange (DEX) Uniswap earlier today. In the piece, Uniswap took aim at leading cryptocurrency exchange Coinbase. According to Uniswap, decentralized exchanges work without requiring users to hand their digital tokens to the exchange to be able to trade. This makes DEXes a better option for traders and investors as they don’t stand to lose their funds to hackers.
The Wall Street Journal writing a piece on Uniswap is great publicity for the project and the entire decentralized exchange space. DEXes have been gaining a lot of attention and adoption in recent years. However, they still lag behind their centralized counterparts.
The coverage from the Wall Street Journey shows how far decentralized exchanges have come over the past few years. Decentralized finance (DeFi) projects are becoming popular as they provide alternative and sometimes better services than the centralized platforms.
Decentralized exchanges yet to catch up to the centralized exchanges.
Uniswap is one of the leading DEXes globally, with over $36 billion in volume as of April. In the same breath, Coinbase, one of the top centralized exchanges in the world, had a transaction volume of $110 billion last month.
Although Uniswap is one of the most popular decentralized exchanges, there are others. Uniswap is based on the Ethereum blockchain. There are others DEXes such as the Pancakeswap, 1inch Network and Sushiswap that are becoming popular within the cryptocurrency space.