- Uniswap racks up 42% of buying and selling quantity on Polygon.
- UNI has seen a slight uptrend after 4 days of downtrend.
Uniswap’s [UNI] latest replace highlighted its achievement as the highest Decentralized Change (DEX) concerning quantity on the Polygon [MATIC] community. Whereas that is actually a formidable milestone, what has been the general buying and selling quantity, significantly for its V3?
How a lot are 1,10,100 UNIs value as we speak
Uniswap leads in quantity on Polygon
In a Uniswap post dated 11 September, the platform proudly introduced its standing because the main Decentralized Change (DEX) on the Polygon community, boasting a formidable weekly commerce quantity of over $213 million. In line with the DEX, this quantity represented a considerable 42% share of the overall buying and selling exercise on the Polygon community.
1/ Uniswap is the highest DEX by quantity on Polygon, with over $213m weekly commerce quantity 😮
— Uniswap Labs 🦄 (@Uniswap) September 11, 2023
Moreover, when inspecting the Total Value Locked (TVL) rating of Uniswap’s DEX on Polygon, it was evident that the platform performed a big function. As of this writing, the V3 held a TVL of roughly $73 million on the Polygon community.
The TVL made it the third-highest contributor when it comes to TVL amongst all members on the Polygon community.
Analyzing the general Uniswap quantity and TVL
In line with DefiLlama information, there was a noticeable uptick in Uniswap’s buying and selling quantity on 11 September. It reached a big milestone by surpassing $1.1 billion in each day quantity.
This marked a noteworthy achievement because it was the primary time throughout the month that its each day buying and selling quantity had exceeded the $1 billion threshold. Till then, the very best recorded quantity was roughly $902 million.
Nevertheless, it’s value noting that the Complete Worth Locked (TVL) on Uniswap displayed some indicators of a downtrend. As of this writing, the TVL has reached over $3.1 billion.
Moreover, DefiLlama’s information revealed that Uniswap V3 performed a pivotal function in buying and selling quantity and TVL throughout the Uniswap ecosystem. As of this writing, Uniswap V3 boasted a TVL of over $2 billion. Additionally, it contributed considerably to the platform’s buying and selling quantity, which stood at over $990 million.
UNI sees little respite
Over the previous few days, Uniswap has skilled a constant downtrend, as evident from its each day timeframe chart. Throughout this era, it noticed a decline in worth exceeding 8% over 4 days. Nevertheless, there was a latest optimistic growth. As of this writing, UNI was buying and selling at roughly $4.1, reflecting a modest improve in worth of greater than 1%.
Reasonable or not, right here’s UNI’s market cap in BTC phrases
The consecutive downtrends that Uniswap encountered initially pushed it deep right into a bearish development, a situation highlighted by its Relative Energy Index (RSI). The RSI indicated that UNI had entered the oversold zone.
Nonetheless, as of this writing, the RSI had risen barely above this oversold threshold, largely attributed to the latest uptick.