Popular DeFi platforms are seeing a surge in Web traffic

Quick Take

  • July was a big month for the DeFi ecosystem, and new Web traffic data shows increases in online foot-traffic for major platforms.
  • Uniswap and Compound had especially busy Julys, according to the data.

Over the past few months, The Block has reported on the growing volume on decentralized exchanges, which hit an all-time high above $4 billion for July.

Data from SimilarWeb indicates that many of the most popular DeFi platforms — including the likes of MakerDAO, Compound and Aave — began seeing marked increases in web visits starting in April and May. The notable crescendo in activity comes as Ethereum hit its five-year anniversary since launch.

The chart below, collected by The Block Research, shows the growth in web traffic over time.

Source: SimilarWeb

Below we break out the numbers behind each platform, which provide greater clarity on the growth figures. For example, SimilarWeb showed 80,000 visits for Compound in April. By comparison, that number hit about 540,000 for July after reaching 480,000 in June.

Source: SimilarWeb

As Messari noted on Wednesday, Uniswap — the DEX volume leader for July — saw a big upswing in traffic to Uniswap.org, growing from 90,000 visits to a whopping 1.4 million.

But that spike appears to be driven by a visit redirection from Uniswap.exchange to Uniswap.org. For June, SimilarWeb captured 960,000 visits for Uniswap.exchange, a figure that fell to just 5,000 for July.

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Source: SimilarWeb

Source: SimilarWeb

Nonetheless, the figures still demonstrate the degree to which Uniswap has benefited from the trend of visit growth amongst major DeFi platforms.

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