Uniswap’s USDC-USDT market share falls to 36%, Fluid and Metric surge

Uniswap , a leading decentralized exchange (DEX) on the Ethereum network, has seen its market share in the USDC-USDT trading pair decline sharply from 58% to 36% over a five-week span. Despite the drop in share, Uniswap’s weekly trading volume for the pair remained stable between $1 billion and $1.3 billion, while total volume for the pair grew significantly, climbing from about $2.3 billion to over $3.3 billion. The USDC-USDT pair is currently Ethereum’s most active DEX market, logging approximately $480 million in daily trading volume, nearly twice as much as the USDC-WETH pair. As volume surged, other platforms absorbed the increase, prompting a shift in the market landscape. Cryptocurrency analyst Tom Wan highlighted that rival protocols Fluid and Metric experienced notable gains during this period.

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