• The number of Uniswap Layer 2 users has increased by 350%, but trading volume has decreased by 39% since May.
• Poodlana has raised $6.3 million in pre-sales and is scheduled to list on Raydium on August 16.
• Poodlana’s token POODL is currently worth $0.0499. The price increases every 72 hours before listing.

In a rapidly changing crypto landscape, two major developments have captured the community’s attention. Uniswap’s Layer 2 (L2) user base has surged 350% in recent months, while Poodlana (POODL), a viral Solana-based meme coin, is nearing its long-awaited listing on Raydium.

As market dynamics shift, both events highlight the growing interest in decentralized finance (DeFi) and innovative token projects.

Uniswap’s Layer 2 user spike

Uniswap, the largest decentralized exchange (DEX) by trading volume, has recently seen a significant increase in its Layer 2 (L2) user base.

According to Dune Analytics, the number of unique addresses communicating with Uniswap via L2s increased from 1.82 million to a whopping 8.93 million between May and July. This is an increase of 350%.

June and July both reached consecutive record highs, easily surpassing the previous record of 2.12 million set in April.

This increase in user activity comes with a caveat, however. Despite the dramatic increase in unique addresses, Uniswap’s total trading volume has been steadily declining.

After reaching an all-time high of $33.6 billion in March, monthly protocol volume fell 31% to $23.2 billion in June and fell further by 12% to $20.5 billion in July. This 39% drop between May and July suggests that while more users are using Uniswap on L2s, they may be trading smaller amounts.

The disproportionate increase in users and the corresponding drop in trading volume raises concerns about the quality of user growth. Analysts have pointed out that this pattern is reminiscent of Sybil attacks, where users create multiple addresses to manipulate protocols, often in preparation for airdrops.

A closer look at the data reveals that 80% of Uniswap’s monthly active traders in July were focused on Coinbase’s L2 Base, which is believed to be the primary location for Sybil activity.

When Base is excluded from the data, Uniswap’s monthly unique addresses on L2s have been steadily declining since April. While it is unlikely that all activity on Base is due to Sybil attacks, caution is warranted. The sharp increase in users on L2s, particularly Base, may not reflect entirely organic growth, but rather speculative activity driven by potential future rewards.

Poodlana “The Hermès of Crypto” Prepares for Launch

While Uniswap tackles the complexities of its L2 growth, Poodlana (POODL) is creating excitement in the crypto community.

Poodlana, branded as “The Hermès of Crypto,” is a meme coin from Solana that has captivated investors with its unique blend of haute couture and poodle-themed branding.

Pre-sale ends on August 16th and the coin is set to debut on Raydium, a decentralized exchange on Solana, with a listing price of $0.060.

The pre-sale of Poodlana was a great success, raising over 6.3 million dollars and attracting a lot of attention in the Asian market, especially in countries like Korea and Japan.

The appeal of the project lies not only in its luxury-themed marketing, but also in its strategic efforts to build its community. With over 16,000 followers across social media platforms, Poodlana has engaged its community through weekly meme contests, AMAs, and exclusive pre-sale events.

Investors have been particularly attracted to Poodlana’s presale structure, which is designed to incentivize early participation. The token’s price increases every 72 hours, forcing investors to act quickly to secure their holdings at the lowest possible price. At the time of writing, the POODL token was trading at $0.0499.

The absence of lock-ups or vesting periods increases the attractiveness of the project and provides immediate liquidity upon IPO.

Poodlana’s roadmap is equally ambitious, with plans to expand beyond its initial DEX listing. The project aims to list on major centralized exchanges, further increasing accessibility and liquidity.

Additionally, Poodlana is gearing up for a massive marketing campaign involving top influencers, high-end fashion brands, and lifestyle platforms. This extensive outreach, combined with the project’s unique branding, positions Poodlana as a potential standout in the meme coin market.

As Poodlana prepares to debut, it joins the broader trend of innovative crypto projects redefining the space. Whether through its forward-thinking approach or its strategic market positioning, Poodlana represents a new breed of meme coins that could have a lasting impact on the market.

Conclusion

As Uniswap’s L2 user base grows and Poodlana’s launch approaches, these developments underscore the dynamic nature of the crypto market.

While Uniswap’s growth raises questions, Poodlana’s innovative approach could set new standards for meme coins, highlighting the continued evolution and potential of decentralized finance and creative token projects.

To learn more about the ongoing Poodlana presale and possibly invest in it, visit the official website here.