• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
Uniswap New Fee Structure:

Uniswap’s New Fee Structure: Are You About To Pay More For These Tokens?

Samuel Edyme by Samuel Edyme
1 month ago
in UNI
Reading Time: 3 mins read

Recently, Uniswap, a prominent decentralized exchange, made headlines by introducing a 0.15% swap fee on specific tokens. While generating buzz and curiosity, this decision has raised several questions regarding its impact on traders.

Decentralized exchanges (DEX) facilitate peer-to-peer trading without intermediaries. The absence of centralized entities has advantages but also presents challenges, especially regarding fee structures.

Uniswap’s latest update to alter its fee structure is a significant shift with potential implications for its large user base.

Related Reading: Uniswap V4 Expected To Be Huge, But Is This Requirement A Dealbreaker?

Uniswap Fee Structure: Analyzing The Financial Impact

According to data shared by Colin Wu, a blockchain-focused reporter, the daily fees from this change on Uniswap V3 could range between $388,000 and $444,000.

Providing deeper insight into the platform’s operations, Wu mentions that approximately 35% to 40% of the entire transaction volume on Uniswap occurs on the front end.

These figures, while substantial, are just the tip of the iceberg. Specific tokens targeted for this new fee include popular tokens such as ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.

However, according to the Chinese reporter, this fee will only apply when these tokens are traded through Uniswap Labs interfaces on the mainnet and its supported Layer 2 networks.

Currently, about 35%-40% of the transaction volume in Uniswap is completed through front end, H/T @1kbeetlejuice. Ethereum Uniswap V3 in the past 24h is $810m, excluding major stablecoin pairs, which is $740m, the daily fees charged by V3 may be $388k-444k.… https://t.co/EAeV6xwQHX

— Wu Blockchain (@WuBlockchain) October 17, 2023

Understanding The Broader Context

While the announcement sparked curiosity, it also led to some confusion concerning the fees. Uniswap’s help center, in response, clarified that these newly implemented fees stand apart from the Uniswap Protocol fee switch, which is determined through votes by Uniswap’s governance mechanism.

Despite the explanation by the DEX’s team, the genesis of this new fee introduction remains ambiguous to many within the community.

In response to Wu’s initial post, several individuals opposed the update, with a particular user questioning the rationale behind the 0.15% fee, the considerations leading to this specific percentage, and the selection of particular tokens for the fee imposition.

According to data from Coinmarketcap, Uniswap has reported a significant trading volume of $518.3 million in the past 24 hours, capturing 18.3% of the market share within the decentralized exchange sector.

Related Reading: Uniswap Soaring User Engagement: How It’s Transforming UNI Price?

Meanwhile, Uniswap native token UNI has witnessed a substantial decline. The asset has dipped by more than 10% over the past two weeks and showed a continuous drop of 5.5% in the last 24 hours. Currently, UNI is trading for $3.8.

Uniswap (UNI) price chart oN TradingView
Uniswap (UNI) price is moving sideways on the 4-hour chart. Source: UNI/USDT on TradingView.com

Featured image from Bitcoin-Bude, Chart from TradingView

Tags: altcoinsDeFiDEXETHethereumETHUSDTUNIUniswapUNIUSDT
Tweet123Share196ShareSend
Samuel Edyme

Samuel Edyme

Edyme is a content writer specializing in the crypto realm. Beyond Bitcoinist and NewsBTC, his writing have graced top sites like Blockchain.News, CoinMonk, Blockchain Reporter, and Bitcoin Insider.

Related Posts

Uniswap UNI Price

UNI Price Prediction – After 25% Rally Uniswap Turned Attractive On Dips

7 days ago
Uniswap UNI crypto analyst

Crypto Analyst Presents Uniswap’s UNI As The Next Coin Primed For Breakout

1 month ago
Uniswap Foundation's Unexpected $43 Million Token Sale:

Uniswap Foundation’s Unexpected $43 Million Token Sale: What’s Going On?

1 month ago
Uniswap

Uniswap Unveils Funding Plan For Ecosystem Revamp As UNI Price Hits 4-Month Low

2 months ago
Uniswap UNI

Why The Uniswap (UNI) Token Is Almost Worthless: Researcher

4 months ago
Uniswap

Uniswap Launches UniswapX Protocol, Sparking 3% Surge In UNI’s Price

5 months ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • Profi Group: The Art of Investing Embodied in Artificial...

    2 hours ago
  • Cardano and Solana Targeted by Another Lawsuit, Borroe...

    3 hours ago
  • Polkadot Rises; Ripple Whales Spot New Trending AI Crypto

    5 hours ago
  • MetaSoilverse Successfully completed Phase-1 IPO, Getting...

    5 hours ago
  • Saitama Unveils Groundbreaking Layer 0 Blockchain...

    5 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.