People Have Spent Almost $7M on ETH Gas for Uniswap

Uniswap now accounts for more gas fees than anyone else on the Ethereum network.

Press time data from EthGasStation shows decentralized exchange Uniswap as the place users have spent the most Ethereum (ETH) on gas payments over the past 30 days. Uniswap participants shelled out a combined 17,700 total ETH as fuel to send their trades through — equalling $6.99 million spent on gas over the past month. 

Tether (USDT) came in second place. People spent a combined total of $6.39 million in ETH as gas to transact the popular stablecoin. Chainlink (LINK) ranked eighth. 

Uniswap has taken the crypto world by storm in recent weeks, with crypto space participants riding the latest speculative hype train. Scams recently gained prevalence in the niche, however, in the form of counterfeit assets, making participation riskier. 

Uniswap has helped spur the Decentralized finance, or DeFi, boom of 2020 so far, giving speculators a place to pick up assets associated with the sector. Some DeFi assets have spiked aggressively as part of a speculative season similar to those seen in 2017. Ethereum gas prices have also risen in tandem with the action.