On July 11, 2023, we turn our attention to Uniswap (UNI), a key player in the decentralized finance (DeFi) space. We'll focus on its market performance, trading activity, and community involvement, and conclude with a future prediction based on the analyzed data.
UNI by Numbers
The market cap of UNI sits at roughly $3.94 billion, making it the 21st ranked cryptocurrency in the market. Its market cap dominance is about 0.321%, demonstrating a strong presence in the saturated crypto market.
UNI's price has been fairly stable over the past week, with a low of $5.11 and a high of $5.70. The 24-hour trading range was between $5.10 and $5.37, indicating moderate volatility.
The trading volume of UNI in the last 24 hours was about $85 million. While this is not overly high compared to some other cryptocurrencies, it still shows active trading and usage in the market.
Supply and Value Locked
The circulating supply of UNI is approximately 754 million, with a maximum and total supply set at 1 billion. This signifies that about 75% of all UNI tokens are currently in circulation.
The total value locked (TVL) in Uniswap is a staggering $7.18 billion. This measure of the total assets staked in the Uniswap protocol is an important indicator of its popularity and use within the DeFi space.
The fully diluted valuation (FDV) of UNI stands at $5.22 billion, with an FDV to TVL ratio of 1.15. This ratio suggests that the market values the future potential of Uniswap slightly higher than the current value of assets staked in the protocol.
The Uniswap community on Reddit is active, with an average of 1.3 new hot posts per hour and over a million new comments per hour. This high level of activity points to a vibrant and engaged community around UNI, which is crucial for the long-term success and adoption of any cryptocurrency.
Given UNI's current market cap, stable price, active trading volume, and engaged community, it's reasonable to predict that UNI will continue to play a significant role in the DeFi space. However, the future of any cryptocurrency is highly dependent on market conditions and regulatory developments.
What potential does Uniswap (UNI) have in the DeFi market?
Uniswap (UNI) has significant potential in the DeFi market. Its substantial TVL indicates a high level of trust and usage of the protocol, and the engaged community is likely to drive further development and adoption. The market's valuation of Uniswap (reflected in the FDV to TVL ratio) also suggests optimism about its future potential.
How does community involvement impact Uniswap (UNI)?
Community involvement is crucial for the success of any cryptocurrency, and Uniswap (UNI) is no exception. A highly engaged community can contribute to the development and adoption of the protocol, promote it to new users, and provide feedback to the developers. The high level of activity in the Uniswap Reddit community suggests a strong support base for UNI, which could positively impact its future growth and success.