Coins Like PEPE and WOJAK Helped Uniswap!

FOMO from new memecoins like PEPE and WOJAK doubled Uniswap’s fee revenues.

In the crypto industry, there is a rush every period. Many categories such as Metaverse, NFT, Web3, DeFi, and memecoins are trending from time to time. Crypto investors caught in FOMO are trying to catch up with whatever the hype is at the moment.

Memecoins such as PEPE and WOJAK, which are the new trend of recent times, have also increased Uniswap’s network activities thanks to the thousands of new investors they have attracted. Uniswap earned a record-breaking fee, especially on April 19.

Mobility on the Uniswap Platform

The decentralized exchange Uniswap has benefited from the interaction in coins such as PEPE and WOJAK, the new trend of recent times. The number of daily active users on Uniswap managed to exceed 85,000 for the first time after May 2021. According to DefiLlama, an average of 237,000 people have used Uniswap in the last 24 hours.

In addition, Uniswap transaction frequency, which has increased with the effect of the latest memecoin frenzy, has also increased the ETH transaction fee to ceiling levels. Especially on April 18, the transaction fees were seen to be 100 gwei due to the extremely congested network activity.

According to data from Etherscan, Uniswap’s fee revenues for the last three days are at record levels. The platform, which earned 1,090 ETH on April 18, earned 1,741 ETH on April 19. Yesterday’s earnings on the platform were 1,534 ETH.

WuBlockchain attributed this momentum to Uniswap, the most active decentralized exchange on the Ethereum network, to the new trend of green meme coins. In particular, PEPE had a global bombing effect by exceeding the market value of 100 million dollars in a short time.