You are giving an example about how people were starting to move from uniswap to the pancake swap. Pancake was taking more advantage due to the low scalability of ethereum network. I was also feeling the same as you. This day I need to pay $100 for a single swap on uniswap while I can pay a few dollar or even less on pancake swap.
That's why the volume of uniswap was going down so hard. Uniswap is only for the whale now.
That's why the volume of uniswap was going down so hard. Uniswap is only for the whale now.
Uniswap's demise might not last for long. I've heard that Uniswap V3 is coming, making high fees and slow transaction confirmation times a thing of the past. The new iteration of Uniswap will make use of "Off-Chain" scalability solutions to increase its performance regardless of Ethereum's network congestion. If it works, Uniswap could rise back to its former glory. PancakeSwap doesn't stand a chance against Uniswap, since the latter has a bigger user base and mainstream adoption. The new Uniswap V3 upgrade will bring the best of both worlds by combining decentralization with scalability.
Ultimately, both AMMs will compete against each other for the foreseeable future. But there can only be one winner in the long run. I believe that winner will be Uniswap. At least, people have many options to choose from. Things would've been worse if there was only one decentralized AMM in the crypto/Blockchain space. Time will tell us the development progress of such platforms according to their ever-rising popularity in the mainstream world. Just my opinion
