The "Ekubo" protocol has now become the second largest decentralized exchange (DEX) by trading volume on the Ethereum network.
Key Achievements:
* Daily Trading Volume: The trading volume in Ekubo surpassed $463 million in the past 24 hours, outperforming the 0xFluid protocol.
* Continuous Growth:
The protocol's weekly trading volume has reached new all-time highs (ATH) for eight consecutive weeks, rising from $424 million in late June to $4.37 billion currently.
* Revenue Increase: Ekubo's fees reached $100,000 for the first time since May 2024, reflecting increased activity on the platform.
This success is attributed to the protocol's efficiency in providing concentrated liquidity on the Starknet network, which is a Layer 2 solution on the Ethereum network. This efficiency attracts both traders and liquidity providers.
Important Note:
Investing in cryptocurrencies involves high risks due to market volatility.
You should always conduct your own research before making any investment decisions and invest only what you can afford to lose.
This content is not investment advice.
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#builtonsolayer @Solayer labs
