Analysts record a decline in trading volume on Uniswap by 25% in a month
According to CryptoRank, trading volume on all decentralized exchanges fell by 23,4%
01.10.2022 - 07:30
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What’s new? In September, trading volume on the Uniswap Decentralized Exchange (DEX) declined by 25% from August’s figures, amounting to $27,3 billion. However, that did not stop the platform from becoming the exchange with the highest trading volume in the last 30 days. Analysts at CryptoRank also recorded a drop in the amount of daily fees last month. According to Token Terminal, fees on Uniswap declined by 7%.
Information on the CryptoRank website
How has the fall in the crypto market affected DEX? Data from CoinGecko showed that the volume of the cryptocurrency market declined by 4% in the last 30 days. Under the impact of the downturn, trading volume on decentralized exchanges also fell over the 30-day period. According to CryptoRank, trading volume on all DEXes fell by 23,4%, from $66,7 billion recorded in August to $51,1 billion in September. This is the fourth consecutive month of decline in trading volumes on DEXes.
Despite the drop in daily fees, the index for active users rose over the past month. On Uniswap, it is up by 15,4% in the last 30 days and 22,4% for the quarter.
Uniswap is a decentralized smart contract-based financial protocol for cryptocurrency trading developed in 2018. The platform supports 631 digital assets and 1511 currency pairs. According to CoinGecko, the daily trading volume is $824 million as of October 1. The exchange’s native token UNI is trading at $6,53, having gained 2,99% per day, according to Binance.
Trading volume on cryptocurrency exchange Uniswap dropped to a new low of 2022 in July. For the first month of Q3, it was about $37,8 billion. Compared to June’s figure of $46,4 billion, the amount for July decreased by 18%.
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