Coinbase: Uniswap tops list of 2023 crypto protocols

According to a Jan. 4 post on X, Uniswap led the Ethereum blockspace with an impressive 43 million transactions and 7.4 trillion gas, 4.5 times more than the second-ranking protocol.

Top Crypto Protocols of 2023

• Uniswap dominated Ethereum blockspace with 43M transactions, utilizing 7.4T gas; 4.5x more than #2
•USDT the top ERC20 with 33.6M sends from 6.2M unique addresses
•1inch the most used aggregator
•New 2023 entrant Banana Gun made 1.5M swaps pic.twitter.com/UIgE2DgA0a

— Conor (@jconorgrogan) January 4, 2024

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Introduced in 2018 by Hayden Adams, a former Siemens mechanical engineer, the Uniswap blockchain operates with the Solidity programming language, a popular choice for many decentralized finance (defi) projects on the Ethereum platform.

Offering users the ability to provide liquidity to pools and trade decentralized tokens in pairs, including native crypto-to-crypto and crypto-to-stablecoins, Uniswap stands out for its open-source nature, encouraging contributions from a diverse community. The project has since garnered over three million unique senders.

The thread continues, highlighting Tether as the second protocol. It witnessed 33.6 million sends from 6.2 million unique addresses, making it a notable player in the Ethereum ecosystem, followed by Opensea, Metamask, and 1inch.

It is worth noting that the aggregator 1inch has emerged as the most utilized project, while the recently introduced entrant in 2023, Banana Gun, recorded 1.5 million swaps in the ninth spot on the list.

In a follow-up thread, the Coinbase Director cites analytics from Dune, presenting a compilation of the top 20 individual contracts, where Uniswap secures the leading positions in the first three spots.

Read more: Banana Gun relaunches on Uniswap v2

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