Uniswap Uniswap
UNI
1.81%
Uniswap price dropped to $5.26 on Saturday, down by over 72% from its highest point this year, and is hovering at its lowest level since Aug. 5.
The decline is because of the ongoing sell-off in the crypto market as tensions on trade continued. It also happened as it lost market share to other popular decentralized exchanges like Raydium, Orca, and PancakeSwap.
According to DeFi Llama, Uniswap has transacted over $48 billion in volume in the last 30 days. PancakeSwap processed $33.6 billion, while Raydium and Orca handled $11.3 billion and $13 billion, respectively.
On the positive side, Unichain, its recently-launched layer-2 network, has continued to gain market share. Protocols in the network processed over $329 million in the last seven days, bringing its 30-day volume to $301 million.
#UNI has overtaken other larger layer-1 and layer-2 network, including Core, Stacks, Internet Computer, Scroll, Algorand, and Injective.
