The trust built within this period between Uniswap and a major market player like CoinBase will help the ecosystem in the long term. However, criticisms arose as to how the data was translated and what it represented. this is a bit odd / surprising — seems like an extreme long-tail distribution of liquidity that results in many pools being insufficient am i thinking about this correctly? — brady 🌴 (@bmgentile) August 19, 2024 CEO of Bonzo Finance Labs, Brady Gentile, stated that the data was odd and surprising for him, leading to the conclusion that the data represents that a lot of the pools included in the 636,562 figure don’t have sufficient liquidity, thus finding the need for multiple liquidity pools for the same pair. The sentiment has been echoed by the majority of the comments on the post.
Weekly number of pools being created on Uniswap v2 Optimism: 342 Arbitrum: 1,866 Polygon: 2,989 Ethereum: 118,820 …and Base: 512,545 🔵 pic.twitter.com/VkBPaY4qMq — Uniswap Labs 🦄 (@Uniswap) August 19, 2024 From its initial figure of 79,277 back in February, it soared to over 636,562 as of August 19th; a whopping 703% increase since it was first deployed. The largest share of the bunch was Base, CoinBase’s in-house Ethereum layer-2, with over 512,545 pairs alone on its Uniswap v2 deployment.
This air of suspicion with how the data is shown and with little to no chance of it being addressed by Uniswap may affect the overall view of the platform. Breakthrough On $6.8 In The Short Term With the slight drama surrounding how data was represented on the platform, the broader sentiment flipped from bullish to bearish as the bears tackled the breakthrough on the $6.8 ceiling. Related Reading: Tron Rises 24% Amid New Developments – Will The Uptrend Continue?
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