Trading volume on Uniswap is down to the lowest since the beginning of the year

In the first month of the third quarter, the figure was about $37,8 billion

15.08.2022 - 14:15

879

2 min

What’s new? Trading volume on cryptocurrency exchange Uniswap dropped to a new low of 2022 in July. According to Dune Analytics, it was about $37,8 billion in the first month of the third quarter. Compared to June's figure of $46,4 billion, the amount for July decreased by 18%. And compared with the same period last year, the decline was 4%, when the trading volume was $39,8 billion.

Dune Analytics' data

What caused the decline? The main reason for the drop in trading volume on Uniswap and other decentralized and centralized exchanges (DEX/CEX) in general was the bear market, which increased in May, became stronger in June and continued in July.

As of August 15, the cryptocurrency market has a total capitalization of $1,219 trillion, adding 6,1% over the week.

Uniswap is a decentralized smart contract-based financial protocol for cryptocurrency trading developed in 2018. The platform supports 442 digital assets and 809 currency pairs. According to CoinGecko, the daily trading volume is $1,2 billion as of August 15 at 14:00 UTC, the exchange ranks first by this indicator. The exchange's native UNI token is trading at $8,63, having lost 4,86% in 24 hours, according to Binance.

In May, representatives of the platform said that since the first version of the Uniswap exchange launched in 2018, aggregate trading volume had exceeded $1 trillion. And in July, Uniswap V3 protocol users were subjected to a phishing attack in which attackers stole 4295 ETH.

Author: