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Uniswap Overtakes Coinbase Thanks to Pepecoin's Popularity and Coinbase's Hostile Stance Against Meme Crypto

The Uniswap decentralized exchange (DEX) has surpassed Coinbase in daily trading volume, potentially due to the popularity of Pepecoin (PEPE) and other meme coins. On May 4th, both Uniswap and Coinbase recorded approximately $1.2 billion in volume, but the following day, Uniswap's volume grew to $2.2 billion compared to Coinbase's $1.3 billion. Uniswap's support for multiple blockchains, including Ethereum, Arbitrum, Optimism, Polygon, Celo, and Binance Smart Chain, may also contribute to its popularity. Additionally, Coinbase's recent labeling of PEPE as a "symbol of hate" in a newsletter to customers may have caused some users to switch to Uniswap.

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