Cardano-based Minswap’s big move pushes key metrics closer to ATAs
Minswap – the largest decentralized exchange on Cardano – has seen a significant increase in various metrics after months of low activity.
According to Dapradar's latest update, MinSwap's unique active wallets (UAWs) and transaction volume have increased by 89.85% and 63.05%, respectively, in the last seven days. In the past seven days, the rate has increased by a modest 16 percent.
During the same period, Minswap added 11.29k UAWs, 129.59k transactions and $592.08 million in trading volume. The weekly figures increased with peak activity recorded on September 24, when DEX volume rose to $6.86 million, according to the latest data. On the same day, unique active wallets rose to over 5.4k, with the transaction volume reaching 35.96k. Such activity could increase the value of MinSwap's native MIN tokens, which generate value from the use of the platform and act as a management token. The increase comes in conjunction with the launch of the ADA/JPG trading pair made available to users on the decentralized exchange. In addition, figures for all three metrics set new all-time highs, the last peak in May. Minswap has taken its place as the liquidity king of Cardano DeFi, ending the second quarter of the year with a total value of $50 million and a dominance of more than 32%. The figure has since declined and TVL is currently stuck around $40 million, DeFillama said.
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