Uniswap has cemented its position as the top decentralized application (DApp) on the Polygon network, processing $539.55 million in trading volume over the past week. This substantial activity places the popular decentralized exchange well ahead of other DApps regarding weekly volume, indicating its strong user base and liquidity on the Polygon blockchain.
Following Uniswap, Polymarket emerged as the second most active DApp, with a $370.92 million weekly volume and the highest number of unique active wallets (UAW) at 64.13K. QuickSwap, another decentralized exchange, held the third position, achieving $301.73 million weekly volume with 14.74K UAW, showcasing its ongoing relevance in the Polygon DeFi space.
TOP #POLYGON DAPPS BY WEEKLY VOLUME
#Uniswap #Polymarket #QuickSwap #ParaSwap #1inch #GammaStrategies #Odos #StargateFinance #JumperExchange #WOOFi pic.twitter.com/1VCUfmvoba— PHOENIX – Crypto News & Analytics (@pnxgrp) October 11, 2024
DApps Displaying Growth Potential Despite Lower Volume
According to PHOENIX, while Uniswap, Polymarket, and QuickSwap led in trading volumes, other DApps on the list posted more modest figures. ParaSwap recorded $66.95 million, while 1 inch followed with a weekly volume of $22.07 million. Gamma Strategies managed $16.95 million despite engaging just 97 unique wallets, demonstrating high average transaction values per user.
Several DApps, such as Odos, Stargate Finance, Jumper Exchange, and WOOFi, exhibited growth potential despite having lower trading volumes than the leading projects. Their engagement metrics, with unique active wallets ranging from 467 for WOOFi to 9.55K for Jumper Exchange, underscore the diversity and expanding ecosystem of Polygon’s decentralized finance (DeFi) offerings.
The latest data emphasizes Uniswap’s dominant role in driving trading activity on the Polygon network, with over half a billion dollars in weekly volume. The rise in trading volumes across various DApps indicates growing adoption and a flourishing DeFi landscape within the Polygon ecosystem, as both established and emerging projects vie for user attention and liquidity.