On-chain activity under the microscope: Uniswap leads ETH/MKR market, difficulty bomb dampens Ethereum issuance

Uniswap, the Ethereum automated exchange protocol, is now the number one trading venue for the ETH/MKR pair, with over $329,000 in volume over the last 24 hours. Ethfinex and OKEx follow closely behind with $257,000 and $228,000 respectively. Uniswap’s success may be partially driven by the temporary closure of OasisDex, the MakerDAO project’s native exchange.

At present there is 1258.17 MKR and 5616.33 ETH in the MKR liquidity pool, with a combined USD value of approximately $1,300,000. Over 2,000 ETH and 474 MKR were added to the pool on Feb. 11 alone, representing a 110 percent increase in liquidity.