UNI Token Drops 8.97% After Record $88.8B Monthly Volume Amid High Volatility and Profit-Taking

Uniswap (UNI) is currently trading at $7.379 on Binance, down 8.97% over the past 24 hours from an opening price of $8.106, with a 24-hour trading volume of approximately $647.8 million and a market capitalization of about $4.69 billion. The recent price decline follows a period of strong bullish momentum, which saw UNI reach a record $88.8 billion in monthly trading volume for May and break out of multi-month resistance levels, driven by increased on-chain activity and positive sentiment around the SEC’s new 'Innovation Exemption' for DeFi. However, the sharp pullback in the last 24 hours can be attributed to profit-taking after UNI’s rapid gains earlier in the week, heightened market volatility, and broader fluctuations in the cryptocurrency sector, despite continued high trading activity and strong derivatives interest. UNI remains among the top 30 cryptocurrencies by market cap and continues to attract significant attention as a leading decentralized exchange token.