- Uniswap has reached a new milestone in terms of unique users.
- However, its monthly volume and TVL continued to decline.
Uniswap, in a new update, more dangerous They have reached a new stage in terms of trading volume and number of unique users. Despite reaching these milestones, data from Dune Analytics indicates that DEX still has a long way to go.
a A 35.51x increase is on the cards if UNI reaches the market cap of ETH?
Take a closer look
According to the data, Uniswap’s monthly volume has decreased significantly in recent months. After August, it dropped from $38 billion to $17.2 billion. If this decline in monthly volume continues, it could affect the ability of DEX to generate revenue in the future.
Currently, based on Messari’s data, Uniswap’s revenue is down 45.02% in the last 30 days. At the time of publication, the total revenue generated by Uniswap over that period is $2.41 million.
Along with its revenue, Uniswap’s TVL also declined. In the past three months, the value of TVL collected by Uniswap has fallen from $3.3 billion to $2.4 billion.
However, the DeFi sector wasn’t the only place where Uniswap experienced slowing growth. Another area where Uniswap has not been able to perform well is the NFT sector.
According to data from Dune Analytics, the number of daily NFT transactions on the Uniswap network has dropped significantly in recent days. After that, the NFT volume also decreased.
In the past month, Uniswap’s NFT volume has dropped from $120.00 to $27.00.
The activity on the DEX is starting to affect the performance of the UNI token.
According to Santiment data, UNI network growth has slowed significantly over the past month. This means that the number of times a UNI is first moved from new addresses has decreased.
Along with the sluggish growth of the network, UNI transaction numbers have also fallen, indicating a lack of activity.
Due to these factors, electoral interest in the symbol also declined. This was indicated by the low percentage of UNI supplies held by the major titles.
Despite this, Uniswap continued to dominate the DEX market share, capturing 56.8% of the total DEX market.
It remains to be seen if Uniswap’s dominance will continue into the next year or if other DEXs will successfully challenge Uniswap for the throne.