[cypress66]

> Objectively nobody actually uses this stuff.

Objectively this is trivial to disprove.

[DennisP]

Yep, just Uniswap alone has transaction volume comparable to major centralized exchanges.

https://decrypt.co/114665/uniswap-overtakes-coinbase-second-...

[dereg]

This is incorrect/misleading on many fronts:

1. This is an outdated article citing a single point in time

2. The source tweet is comparing Uniswap's volume on all x:ETH pairs against only ETHUSDT volume on centralized exchanges. [0]

3. The date of comparison is an outlier day - when FTX's "hacker" decided to move huge sums of tokens uneconomically on chain.

4. Volume across CEXs have collapsed, a sign of the ecosystem's weakness, not strength.

5. Even then, Uniswap doesn't hold a candle to Binance. ($600m volume vs $10b volume, past 24 hours on spot pairs)

6. Liquidity is horrible right now. If you try to execute a trade of reasonable size on a non-major coin you will face a lot of slippage.

[0]: The tweeter, Alex Svanevik is the founder of Nansen, a chain analytics company. It doesn't make sense that he would make such a simple mistake unless he was deliberately trying to bullpost.

See for yourself:

https://www.coingecko.com/en/exchanges/uniswap#statistics

https://www.coingecko.com/en/exchanges/binance#statistics

https://www.coingecko.com/en/exchanges/coinbase#statistics

[lambdadmitry]

Between bots, wash trading, and algo traders it doesn't say much about real world adoption.

[DennisP]

Regarding wash trading at least, it's easier on central exchanges, since they can do it without cost. Nobody can avoid Uniswap's transaction fees.