Why Uniswap’s latest development failed to push UNI towards the bulls

ambcrypto.com:

Uniswap [UNI], one of the largest decentralized exchanges, collected the highest amount of fees in the last three months. However, the collected fees failed to translate into revenue. According to Messari, a crypto analytics firm, there were other protocols that outperformed UNI on this front.

_____________________________________________________________________________________

Here’s AMBCrypto’s Price Prediction for Uniswap for 2022-2023.

_____________________________________________________________________________________

Messari, in a tweet posted on 16 October, mentioned that despite UNI collecting massive amounts of fees, OpenSea outperformed UNI in terms of revenue generated over the last three months. As can be observed from the image below, despite garnering huge amounts of fees, Uniswap failed to make it to the top 10 list of generating revenue.

Source: Messari

Another concerning factor for Uniswap investors would be the decline in the number of users being retained. The number of addresses being retained on the Uniswap network was on a constant decline. 

Source: Dune Analytics

However, since the beginning of 2022, there was an uptick observed in the number of new addresses being added on to the network. New addresses being added on to the network may have a positive impact on UNI in the near future.

Despite being unable to retain users, Uniswap still maintained its dominance in terms of volume compared to other DEX’s. At the time of writing, Uniswap was responsible for67.2% of the total volume on DEX’s according toDune analytics.

Despite Uniswap’s strength in terms of volume, there were other areas where Uniswap needed improvement. After having a look at the graph below, it can be seen that Uniswap’s velocity witnessed a