CRYPTO NEWS: ANALYZING THE SITUATION OF UNISWAP IN LIGHT OF A DECLINE IN DEX TRADING ACTIVITY.

ANALYZING THE SITUATION OF UNISWAP IN LIGHT OF A DECLINE IN DEX TRADING ACTIVITY. ON A MONTHLY BASIS, UNISWAP V3 REPORTED A 25% DROP IN TRADING VOLUME. DESPITE THIS, UNISWAP MANAGED TO SURPASS ALL OTHER DECENTRALISED EXCHANGES (DEXES) IN TERMS OF TRADE VOLUME DURING THE PREVIOUS 30 DAYS.

ANALYZING THE SITUATION OF UNISWAP IN LIGHT OF A DECLINE IN DEX TRADING ACTIVITY:

ANALYZING THE SITUATION OF UNISWAP
ANALYZING THE SITUATION OF UNISWAP IN LIGHT OF A DECLINE IN DEX TRADING ACTIVITY

ACCORDING TO DATA FROM COINGECKO, THE MARKET CAPITALIZATION OF ALL CRYPTOCURRENCIES FELL BY 4% OVER THE LAST 30 DAYS. TRADING VOLUME ON DEXES DECREASED THROUGHOUT THE COURSE OF A 30-DAY PERIOD AS A RESULT OF THE DECLINE IN THE CRYPTOCURRENCY MARKET AS A WHOLE.

DATA FROM CRYPTORANK SHOW THAT FROM $66.7 BILLION IN AUGUST TO $51.1 BILLION IN SEPTEMBER, TRADE VOLUME ON ALL DEXES DECREASED BY 23.4%. TRADING VOLUMES ON DEXES FELL FOR THE FOURTH MONTH IN A ROW DURING THIS PERIOD.

BULLS AND BEARS OF UNI:

DESPITE SHARING 70% OF THE DEX TRADING VOLUME WITH PANCAKESWAP IN SEPTEMBER, DATA FROM DEFILLAMA SHOWED THAT UNISWAP HAD A REDUCTION IN ITS TOTAL VALUE LOCKED (TVL) OVER THE COURSE OF THE 30-DAY PERIOD.

THE PROTOCOL’S TVL WAS $5.27 BILLION AT THE TIME OF PUBLICATION, DOWN 7% FROM SEPTEMBER.

BUT AS THE THIRD QUARTER CAME TO A CLOSE, UNISWAP WAS PREPARED TO START THE FOURTH QUARTER OF THE YEAR WITH A 6% INCREASE IN ITS TVL OVER THE PREVIOUS 90 DAYS.

THE DEX RECORDED A DECREASE IN DAILY FEES OVER THE PAST MONTH IN ADDITION TO A DIP IN ITS TVL. REPORT FROM TOKEN TERMINAL SHOWS THAT USERS’ DAILY FEES ON UNISWAP DECREASED BY 7%.

THIS ALSO DECREASED BY 39% OVER THE QUARTER. DAILY FEES ON UNISWAP HAD ONLY INCREASED BY 4% OVER THE PREVIOUS 365 DAYS, FOLLOWING THE SPIKE IN INTEREST IN DECENTRALISED FINANCE IN 2021 AND THE SUBSEQUENT DECREASE.

IT’S INTERESTING TO NOTE THAT THE INDEX FOR ACTIVE USERS HAS INCREASED OVER THE PAST MONTH DESPITE THE DECREASE IN DAILY FEES ON THE PROTOCOL. UNISWAP’S ACTIVE USER BASE INCREASED BY 22.4% OVER THE COURSE OF THE QUARTER AND BY 15.4% OVER THE LAST 30 DAYS.

UNI OVER THE PAST MONTH:

THE PRICE OF UNI, THE NATIVE TOKEN OF UNISWAP, HAS BEEN ON A ROLLERCOASTER OF HIGHS AND LOWS SO FAR THIS MONTH. THE ASSET STARTED THE MONTH AT AN INDEX PRICE OF $6.27, ACCORDING COINMARKETCAP STATISTICS.

BY SEPTEMBER 12, IT HAD RISEN TO A PEAK OF $6.88. THE PRICE PER UNI FELL BY 32% AS A RESULT OF THE BULLS’ INABILITY TO MAINTAIN THE RISE.

ON SEPTEMBER 21, UNI WAS TRADING AT $5.26. WHEN THE BULLS REAPPEARED, THEY SPARKED AN UPWARD RUN THAT DROVE UNI’S PRICE TO $6.29 AT THE TIME OF PUBLICATION.

FOLLOW US ON:

HARI INFO SECTION H.D.C.

FACEBOOK YOUTUBE

HARI DENTAL CARE

HARI WEB STORIES H-SHOPEE

HARI ENTERPRISES

CRYPTO NEWS: ANALYZING THE SITUATION OF UNISWAP IN LIGHT OF A DECLINE IN DEX TRADING ACTIVITY.

Leave a Reply

Scroll to top
error: Content is protected !!