San Francisco-based exchange Coinbase has fallen behind decentralized exchange Uniswap in terms of trading volume since the beginning of 2023, making the DeFi exchange the premier decentralized trading spot for users. 

Trading Volumes On Uniswap And Coinbase

Taking to X (Formerly Twitter) Bitwise researcher Ryan Rasmussen revealed that Uniswap performed better than Coinbase in terms of spot trading volumes in 2023.

Uniswap’s trading volume first surpassed Coinbase’s trading volume in February, and despite the decline in trading volume since then, Uniswap still managed to be ahead of the largest crypto exchange in the United States.

Coinbase’s daily trading volume has consistently been above $1 billion since then, while Uniswap’s daily trading volume has come out above $1.4 …