Logo
Cardano Ecosystem

Cryptopotato

10/01/2023

·

181 views


Massive Activity on Cardano-Based Minswap Pushes Key Metrics Near ATHs

Minswap – which is the largest decentralized exchange on Cardano – witnessed a spike across various metrics after months of low activity. According to the latest update by DappRadar, Minswap’s unique active...

Massive Activity on Cardano-Based Minswap Pushes Key Metrics Near ATHs

Minswap – which is the largest decentralized exchange on Cardano – witnessed a spike across various metrics after months of low activity.

According to the latest update by DappRadar, Minswap’s unique active wallets (UAWs) and transaction count increased by 89.85% and 63.05%, respectively over the past seven days. The volume was also up by a modest 16% in the last seven days.

  • During the same period, Minswap added 11.29k UAWs, 129.59k transactions, and $592.08 million in trading volume.
  • The weekly figures spiked due to massive activity recorded on September 24th, when the volume of the DEX surged to $6.86 million, as per the latest data.
  • On the same day, unique active wallets also climbed above 5.4k, while the transaction count hit 35.96k.
  • Such activity could boost the prices of Minswap’s native MIN tokens, which generate value from platform usage and are used as a governance token.
  • The surge comes coincided with the launch of the ADA/JPG trading pair, which was made available to users on the decentralized exchange.
  • Besides, 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, DeFiLlama data revealed.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.


AD

Delegate Your Voting Power to FEED DRep in Cardano Governance.

DRep ID: drep12ukt4ctzmtf6l5rj76cddgf3dvuy0lfz7uky08jfvgr9ugaapz4 | We are driven to register as a DRep by our deep dedication to the Cardano ecosystem and our aspiration to take an active role in its development, ensuring that its progress stays true to the principles of decentralization, security, and community empowerment.DELEGATE VOTING POWER!


Read Original Article on Cryptopotato

ORIGINAL SOURCE

https://cryptopotato.com/massive-activit...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


An image that says Learn Blockchain technology and get ahead in the industry with a link to the Cardano Academy.

More from Cryptopotato

See more
Crypto Investment Products Experience $795 Million in Outflows Amid Tariff Concerns
Cryptopotato
Crypto Investment Products Experience $795 Million in Outflows Amid Tariff Concerns

04/14/2025

·

27 views

Related News

See more

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)