Uniswap’s decentralized exchange has been buzzing with a staggering $3 billion in daily trading volume this past week
Uniswap, the leading decentralized exchange, has been making waves in the crypto world. Despite facing potential legal challenges from the U.S. SEC, Uniswap has managed to maintain its impressive average daily trading volume of $3.08 billion from April 10 to April 15, as reported by DefiLlama.
This milestone of breaking the $3 billion mark proves that Uniswap is a force to be reckoned with, unfazed by any obstacles in its path.
Despite the looming threat of legal battles with the SEC, users are not backing down. Trading volume has remained steady, ranging from a whopping $2.6 billion to $3.9 billion over the past five days.
As of April 16, the platform’s total value locked (TVL) reached an impressive $6.62 billion, with a market capitalization of $5.65 billion. It seems that nothing can slow down this unstoppable force in the world of finance.
Despite its initial hype, the Uniswap token (UNI) has failed to live up to expectations, with its value plummeting by 37.5% in just one week, according to CoinMarketCap. From a promising $11 on April 10, the UNI price swiftly tumbled below $6 in a mere three days. As of now, the token is struggling at $7.15, experiencing an 8% drop in the last 24 hours alone.
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Uniswap’s CEO, Hayden Adams, made a shocking announcement on April 10th. His team has been served with a Wells notice, a precursor to a potential legal battle with the Securities and Exchange Commission. But that’s not all – in response to this looming threat, the exchange has also hiked up their commissions from 0.15% to 0.25%.