Uniswap regains stable USD domination from Curve- Here’s how

ambcrypto.com:

The tug of war between the decentralized exchanges was long over when Uniswap [UNI] took over the market and became the biggest DEX. 

However, in the field of stable USD, Curve [CRV] had an upper hand. But over the last few weeks, the second biggest DEX lost that upper hand by giving it to Uniswap.

The weekly volume noted on-chain shows that week on week since October 2021, Curve had a significant dominance over Uniswap.

When Uniswap was conducting transactions worth $529 million, Curve was registering twice as much volume sitting at $1.2 billion, particular to USD stable. 

Curve vs Uniswap volume and domination | Source: Dune – AMBCrypto

In terms of capturing the market, Curve at one point held almost 71% of the market, whereas Uniswap only had 29% of it.

Over the last month, the tables turned, and towards the end of July, Uniswap gained a 72.3% domination while Curve just had 27.7% of the market. 

In doing so the total volume generated by both also switched places as Curve noted $572 million worth of trade, while Uniswap observed $1.58 billion of the same.

This is despite the fact that on the charts, Curve had been noting a phenomenal growth rising by over 164% in the span of a little over a month.

In fact, this rally even superseded Uniswap’s growth, which in almost two months now only gained by 147%.

Curve price action | Source: TradingView – AMBCrypto

But going forward as Curve lost the DEX domination, it could also lose this recovery. In the last 20 days alone, a drawdown of almost 18% has been witnessed in the case of CRV, and price indicators do not look positive right now.

The Parabolic SAR is about to flip its three-week long uptrend into a downtrend and the Moving Average Convergence Divergence (MACD) has already