See More

Uniswap Volume Hit 2022 Low Sinking More Than $24 Billion  

2 mins
Updated by Ryan James
Join our Trading Community on Telegram

In Brief

  • Uniswap plunged further in trading volume in July.
  • Bearish market trends led to a year-over-year decrease in July.
  • July 2022 saw Uniswap volume reach $37 billion.
  • promo

Uniswap saw a further decline in trading volume during the seventh month of the year due to decreased investor interest in digital assets.

Uniswap reached a new low in July as the month proved to be one of the worse periods in the trading history of the decentralized exchange (DEX).

The DEX recorded about $37.8 billion in volume during the first month of the third quarter of 2022, according to Be[In]Crypto Research.

While this value may seem high due to volume recorded by competing DEXs such as 1inch, SushiSwap, Curve, Balancer, dYdX, Loopring, Shibaswap, and Mooniswap, it was an 18% decrease from June. Uniswap volume for June was around $46.4 billion. 

Source: Monthly Volume of DEXs Chart by Dune Analytics

After reaching a new low ever since it recorded a volume of $32 billion in February 2021, Uniswap also saw a 4% drop year-over-year in trading volume from July of last year. In July 2021, Uniswap had a trading volume in the region of $39.8 billion. 

Overall, July’s statistic was a $24.8 billion fall from the yearly high of $62.7 billion in May. 

What caused the dip in Uniswap volume? 

An overall bearish market that deepened in May which gained further ground in June, and extended to July has been attributed to as the cause for the drop in the trading volume of Uniswap, decentralized exchanges, and centralized exchanges (CEXs) as a whole.

UNI price reaction 

UNI opened on July 1, with a trading price of $4.99, reached a monthly high of $9.74, tested a monthly low of $4.73, and closed the month at $8.37. 

Overall, despite a decline in trading volume, the relatively lower prices of tokens saw a 67% increase between the opening and closing price of UNI in July. 

Source: UNI/USD Chart by TradingView

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.

Top crypto platforms in the US | March 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

raphael_minter-e1644218633733.png
Raphael Minter
As a writer, researcher, and analyst of centralized and decentralized financial instruments (stocks, commodities, metals, and cryptocurrencies), he started experimenting with financial asset trading in 2011. He ventured into full-time long term investing of cryptocurrencies in 2016.
READ FULL BIO
Sponsored
Sponsored