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Uniswap: Milestone aside, 13% price plunge draws concerns

2min Read

Uniswap celebrates a remarkable achievement with over 250 million swaps, showcasing its growth. TVL fluctuates, with Uniswap V3 leading at $2.7 billion.

Uniswap Achieves Record-Breaking Number of Swaps as UNI Plunges by 13%

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  • Uniswap achieved a significant milestone by surpassing 250 million swaps.
  • UNI declined by over 13% as V3 dominated TVL.

Uniswap [UNI] has been making waves recently, as the platform crossed a significant milestone in the number of swaps. However, it’s not just the sheer volume of swaps that highlighted its growth since its launch. 


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


Uniswap sees record swaps

On 9 June, Uniswap reported an astounding achievement in the form of a groundbreaking number of swaps conducted on its platform. The figure, supported by data from Dune Analytics, recently surged past the 250 million mark.

As of this writing, Dune Analytics recorded approximately 250.5 million swaps, with the number steadily increasing. 

Source: Dune Analytics

Furthermore, significant milestones, including Uniswap’s V1, V2, and V3 launches, have marked Uniswap’s journey. These successive releases expanded the platform’s offerings and widened its reach.

The recent deployment of Uniswap V3 on other blockchain networks, such as Binance Chain, Polygon [MATIC], and, most recently, Arbitrum [ARB], has further amplified its presence and potential.

Uniswap’s TVL highs and lows

A closer look at the Total Value Locked (TVL) on the Uniswap platform revealed an interesting trend. Over the years, the TVL has experienced fluctuations, with a notable decline overall. As of this writing, the combined TVL of all Uniswap versions stood at over $4 billion.

The TVL graph exhibited a significant decline, punctuated by occasional uptrends. In March, there was a slight upward movement in TVL, reaching a peak of $4 billion before descending again. 

Dource: DefiLlama

Additionally, a breakdown of the TVL by different versions of Uniswap sheds light on the value distribution. Uniswap V3 had the highest TVL among the versions, amounting to approximately $2.7 billion. In contrast, Uniswap V2 followed closely behind with a TVL of around $1.7 billion.

The wild UNI run

Recent data from Santiment highlights an interesting development regarding Uniswap. The number of active addresses on the platform experienced a slight uptrend, indicating increased user engagement.

The 30-day active addresses metric hovered around 30,000 at press time, reflecting positive user activity and participation trend.

Uniswap active addresses

Source: Santiment


Is your portfolio green? Check out the UNI Profit Calculator


However, UNI price told a different story when observed on the daily timeframe chart. As of this writing, the token was trading at approximately $3.9, exhibiting a significant loss of over 13%.

The price had entered a strong bearish phase, characterized by a downtrend that had pushed UNI into the oversold region on the Relative Strength Index (RSI).

UNI/USD price move

Source: TradingView

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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