Uniswap Growth on Avalanche!

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    This analysis delves into the recent introduction of Uniswap onto the Avalanche chain. Approximately one month ago, Uniswap unveiled its support for the Avalanche chain, ushering in the opportunity for users to seamlessly engage with one of the largest decentralized exchanges (DEXs) within the Avalanche ecosystem.

    Subsequent to this announcement, I embarked on an exploration of Uniswap's integration and conducted an in-depth assessment of the following key parameters:

    Comparative Evaluation: Uniswap's Position Among Other DEXs on Avalanche

    User Base and Transactional Activity

    Volume of Trades

    Pools

    Profiling Uniswap's User Demographics

    Overview
    Introduction
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    Uniswap Users

    This part refers to those users who only used Uniswap on Avalanche and never experienced other platforms that support Avalanche. Following this criteria, Since uniswap launch, 4.1K used Only Uniswap. The total daily number of users who used only uniswap increased significantly since July 18 when increased from 24 up to 729 unique users. However after that decreased but still remained above 150.

    Uniswap Vs. Other Platforms

    IMPORTANT NOTE: It is widely acknowledged that Trader JOE holds the position of the most significant DEX on the Avalanche chain, evident through its user count, transaction frequency, and trading volume. The objective of this section is to conduct a comparative analysis between Uniswap and other non-native DEX platforms on Avalanche, as well as those smaller native DEXs, in order to discern the proportion of market share held by Uniswap within this subset of platforms.

    Users

    Commencing with user statistics, up until July 18, the preeminent user shares were held by Woofi and Pangolin. These platforms collectively accounted for over 60% of the total user base. However, subsequent to the introduction of Uniswap, the user shares of Pangolin, Woofi, and other DEXs experienced a decline, resulting in Uniswap securing a notable 20% portion of the total user base. Consequently, both Woofi and Pangolin observed a decline of approximately 20% in their respective user shares subsequent to Uniswap's launch.

    From the time of Uniswap's inception in June, the cumulative count of unique users amounted to 25.2K, positioning it as the fourth-ranking platform based on user numbers.

    Transactions

    Leading up to July 12, Uniswap held a relatively modest portion of the market share in comparison to other platforms within the Avalanche ecosystem. However, subsequent to this date, Uniswap experienced a substantial surge, capturing an impressive 26% share of transactions. This growth marked a remarkable achievement for Uniswap within a relatively short timeframe.

    Over the course of approximately two months, Woofi emerged as the dominant player, commanding 44% of the transactional share. Pangolin followed closely with a 24% share, and Sushiswap held 8%. Uniswap, securing a cumulative share of 7.7% in transactions, secured its position as the fourth-ranking platform during this period.

    Volume

    One of the pivotal aspects to consider is the trading volume witnessed on DEXs. Uniswap managed to achieve an impressive trading volume of up to 72 million US dollars in a relatively brief period. Although GMX, Playpus, and Woofi maintained higher volumes as leading platforms, Uniswap's rapid accumulation of significant volume within a short timeframe is noteworthy for a DEX.

    Furthermore, Uniswap's trading volume exhibited a consistent increase since July 14, indicating a remarkable growth trajectory. In essence, Uniswap achieved the milestone of reaching 72 million US dollars in trading volume in under 15 days. This upward trend in trading volume positions Uniswap to potentially enhance its ranking among other DEXs on the Avalanche platform in the near future.