Why CurveFinance's loss is Uniswap's gain
Realistic or not, here’sUniswap has been ahead of Curve for a long time, while dominating the Decentralized Exchange space. According toUniswap, on the other hand, could boast of a186.5% hike in total trading volume in the last 24 hours. Also, net deposits on the protocol exceedingly overrode every other DEX project.This hike in net deposits showed that the rate of re-invested deposits on Uniswap outpaced other protocols. As a result, total fees generated by Uniswap reached $1.3 million — an 82.
On looking at the tokens associated with both projects, there was a glaring disparity in sentiment. Here, thecomes into play. Funding rates are periodic amounts of assets paid between long-positioned and short-position traders. When the funding rate is positive, it means that long-position traders are dominant. Hence, there is widespread bullish sentiment leading longs to pay shorts a funding fee. Conversely, when the funding rate is negative, it implies that shorts are paying longs a funding fee to keep their positions open.At press time, CRV’s funding rate and UNI’s were at opposite ends. And according to Santiment, UNI’s funding rate on the DyDx was 0.003% while CRV’s funding rate was -0.007%.
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