Minswap, the largest decentralized exchange on Cardano, has experienced a significant increase in various metrics after months of low activity. DappRadar reported that Minswap's unique active wallets (UAWs) and transaction count rose by 89.85% and 63.05% respectively over the past seven days, with volume also up by 16%.
During this period, Minswap added 11.29k UAWs, 129.59k transactions, and $592.08 million in trading volume. The surge in activity is attributed to the launch of the ADA/JPG trading pair on the decentralized exchange, which boosted Minswap's native MIN tokens.
Despite a drop in total value locked (TVL) to around $40 million, Minswap remains the dominant player in Cardano's DeFi sector, with a market share of over 32%. This recent uptick in activity signals a positive outlook for the platform and the broader DeFi market.
During this period, Minswap added 11.29k UAWs, 129.59k transactions, and $592.08 million in trading volume. The surge in activity is attributed to the launch of the ADA/JPG trading pair on the decentralized exchange, which boosted Minswap's native MIN tokens.
Despite a drop in total value locked (TVL) to around $40 million, Minswap remains the dominant player in Cardano's DeFi sector, with a market share of over 32%. This recent uptick in activity signals a positive outlook for the platform and the broader DeFi market.