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MakerDAO and Uniswap lead on the DeFi front; will UNI and MKR comply?

2min Read

In a sea of losses, MakerDAO and Uniswap shine bright. Their resilient holders defy trends, showcasing DeFi’s potential amidst market turmoil.

The logos of MakerDAO and Uniswap shine brightly at the top of a leaderboard, while a group of confident holder icons stand below, symbolizing their strong performance. The logos at the top signify DeFi leadership, and the confident holder icons add context. In the foreground, symbols of strength and confidence highlight the situation. The scene conveys a sense of achievement and leadership, utilizing contrasting colors and visual elements to emphasize MakerDAO and Uniswap's position as DeFi leaders and the impressive performance of their holders, sparking discussions and analysis within the cryptocurrency community about the factors contributing to their success, the role of strong holder performance, and the potential implications for the broader DeFi ecosystem.

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  • Just 52% of MKR holders were holding at a loss, while it is around 72% for UNI.
  • Maker and Uniswap are currently trending below the neutral lines on their RSIs.

Uniswap [UNI] and MakerDAO [MKR] have distinguished themselves from other DeFi tokens by having fewer holders holding at a loss. In a period when most DeFi tokens and other cryptocurrencies are seeing most of their holders incurring losses, this achievement sets these tokens apart.


– How much are 1,10,100 MKRs worth today


Less Maker and Uniswap holders at a loss

The crypto market experienced an extended period of decline, leading to a decrease in the value of various assets, including DeFi tokens. This downturn also contributed to a rise in the number of holders experiencing losses, as reported by Into The Block.

However, amidst these circumstances, MakerDAO and Uniswap have emerged as standout performers among DeFi tokens. 


According to Into The Block’s report, MakerDAO [MKR] displayed a figure of approximately 52.3% of its holders in a loss position. Similarly, Uniswap [UNI] secured the second position, with roughly 72% of its holders facing losses.

To provide context, Compound [COMP] and Ox exhibited higher numbers, with around 93% and 86% of their respective holders incurring losses. On the other hand, Aave recorded 76.3% of its holders dealing with losses.

MKR and UNI flash bearish signal

Examining MakerDAO on a daily timeframe revealed that it was not exempt from the broader market’s downward price movement. However, the impact appeared relatively moderate; the chart illustrated a trend with a steadier ascent rather than a decline.

As of this writing, it was exchanging hands within the range of approximately $990 to $1,000. Nevertheless, the trend exhibited a distinct bearish nature, as evidenced by its Relative Strength Index (RSI).

MakerDao daily timeframe chart

Source: TradingView

In contrast, Uniswap exhibited greater price volatility, evident from its daily chart. Its press time trading value hovered around $4.5, declining over 1%. The RSI also pointed toward a bearish trajectory for Uniswap, with its signal being more pronounced since it had slipped below the 30 mark.

Uniswap daily timeframe

Source: TradingView

Maker and Uniswap’s TVL declines

A broader perspective on the Total Value Locked (TVL) for MakerDAO and Uniswap revealed a noticeable decline. At the time of this assessment, Maker’s TVL hovered around $5 billion, according to data from DefiLlama. Comparatively, just before 12 August, the TVL exceeded $5.9 billion. However, a steep reduction became evident, leading to the present TVL level.


– How much are 1,10,100 UNIs worth today


Similarly, Uniswap encountered a significant drop in its TVL on 22 August, causing it to plummet to approximately $1 billion, per DefiLlama. Nonetheless, at the present moment, the TVL has rebounded and stabilized at around $3.4 billion.

 

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Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations. Besides working on insightful articles that touch upon the crypto-space's hottest issues, he finds joy in supporting Manchester United and Afrobeat music.
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