Uniswap sees 24-hour volume to the tune of $4.8 billion, what’s in store for holders

Despite being a DeFi token, Uniswap has managed to beat some major traditional crypto assets. Read the full article by: Aaryamann Shrivastava

Key Points:

• Uniswap is the biggest automated market maker in defi based on users and total liquidity. They are best known for being capable of transacting any ERC-20 tokens in a peer-to-peer matter. In recent months it has been struggling on the price side as it has been held back by the large barrier to entry created by gas fees.

• Uni saw its price cut down again on Friday with the total market crash. The good news is that even with this the network still saw a record high volume of $4.8 billion in 24 hours and $21 billion on the week. Looking at Uniswaps velocity as well it shows that UNI is changing hands more frequently in this time frame.

• Just last month it was also reported that Uniswap 65% of users of the protocol were suffering losses based on impertinent losses, fees, and liquidations.

• Even though times have been tough for UNI recently there’s still reason for optimism going forward. Once the gas fee situation is sorted out we will finally be able to see the full potential of the project and what DEXs can actually bring to the table.