Uniswap has just engraved its name in the digital marble of the crypto universe. Three thousand billion dollars in cumulative volume. A dizzying figure, a historic first for a Dex. However, behind the confetti, some signals invite you to restraint. Because if the figures shine, the decor is more nuanced.
In short
- UNISWAP becomes the first Dex to cross the $ 3,000 billion in volume exchanged.
- Despite this feat, its TVL remains twice lower than its peak of 2021.
- The UNI Crypto stagnates, while UNISWAP prepares an EIP-7702 compatible portfolio.
A thunderous feat, but a depth to put things in perspective
It was necessary to dare: in an ecosystem still young, Uniswap has established itself as the crossroads of decentralized exchanges.
3,000 billion dollars is the imprint left on the blockchain asphalt. Hayden Adams, founder of the protocol, did not fail to celebrate the moment on X, screenshot Dune Analytics In support, as a stage victory before another revolution.
However, today's figures also tell another crypto story. The daily volume revolves around $ 3.3 billion, with a 23 %crypto market share. Impressive, of course, but slightly withdrawing from rivals like Pancakeswap, which now flirts with the $ 2.7 billion and 21 % share. Competition becomes fierce, and the advance of Uniswap is no longer as indisputable.
As for the total blocked value (TVL), another DEFI dynamism thermometer, it caps at $ 5 billion. Half less than the peak reached in 2021. Even if the entire DEFI displays a global TVL at 124 billion according to Defillama, it is a clear reminder: the enthusiasm has calmed down, and prudence reigns.
Innovation continues, but the united crypto patina
Behind the scenes, Uniswap nevertheless prepares its moult. On May 12, Adams announced the imminent launch of their EIP-7702 compatible portfolio, a proposal signed Vitalik Buterin, freshly integrated with the Pectra update.
The idea? More flexible, smarter Ethereum accounts, capable of transforming into ephemeral contracts to strengthen security. A proactive response to future threats, including those from quantum computer science.
But while the technology is advancing, the UNE crypto, it raises. Coingecko situates it around $ 7, far, very far from its $ 45 summit in 2021. More than 84 % decrease in four years. A poor performance that contrasts with the technical exploits of the protocol. The crypto market, it seems, remains skeptical in the face of valuation.
In short, Uniswap reminds us that in the crypto, the figures are not enough. Innovation, as spectacular as it is, must convince beyond developers. And the next revolution could be played well where we do not expect it. Meanwhile, Ethereum puts big on institutional stuking.
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