Uniswap Hits Over $7 Bln in Weekly Trading Volume & $100 Billion Overall
The popular decentralized exchange Uniswap has hit a milestone of processing more than $100 billion in trading volume in its entire life.
Ever since the beginning of 2021, the DEX has been doing more than $5.5 billion per week, which went past $7 billion during the second week of February, as per Uniswap.Info.
The TVL (total value locked) of the protocol has also surpassed $4 billion for the first time.
— Hayden Adams 🦄 (@haydenzadams) February 15, 2021
Much like the exchange, its token UNI is experiencing a significantly positive price performance. Uniswap Token, with a market cap of $6.34 billion, is trading above $21, up 345% this year so far.
After exchange balances peaked at 36.86 million UNI in early January, a 10% outflow of over 5.3 million UNI tokens occurred, supporting a price rally from $6.33 to over $23.26.
According to Glassnode, over this same period of time, the number of intra-day transactions transferring UNI tokens tripled from 277tx per hour to a peak of 830tx per hr. However, despite this continued price appreciation, there has been a marked slow-down of transaction counts for UNI tokens since the beginning of this month.