Uniswap [UNI] goes soul-searching, thanks to these warning signs
Trading volume across decentralized exchanges (DEXes) in the last seven days totaled $12 billion, according to data from Dune Analytics. With $8.36 billion logged-in trading volume in the last week, Uniswap enjoyed a 70.1% share of the entire DEX market.
Exchanging hands at $9.04 at the time of writing, the protocol’s native token, UNI, saw tremendous growth in the last month. According to a new report by Santiment, the #15 token with the largest market capitalization registered over 140% uptick in its price since 18 June.
On 18 July, UNI exchanged hands at $3.65. Witnessing growth in the last 48 days, the price of UNI was $9.08 at the time of writing. According to data from CoinMarketCap, during the bull run in July, the token grew by over 65%.
With its daily trading volume at 270.79 million at press time, UNI’s trading activity saw a 70% growth since 18 June.
Within the period under review, the token rallied to a high of 637.21 million in trading volume on 28 June, the highest it has seen in three months.
Further, within the same period, the token’s market capitalization rose from $5.38 billion to $6.76 billion.
Source: Santiment
According to the report, on a 30-day moving average, in the last month, daily active addresses on the network grew to a high of over 1,100 addresses per day. As the price rose to a high of $9.28 on 28 July, unique addresses that traded UNI totaled 1966.
New addresses joining the network have also grown in the last month. On 19 July, UNI registered a daily high of 595 new addresses, the highest the network has recorded since May.
Source: Santiment
Furthermore, in its report, Santiment noted that since May, UNI has seen a spike in its whale activity. According to the report, in the last two weeks,
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