Thomas Daniels
In a remarkable display of resilience, Uniswap’s average daily trading volume has surged to $3 billion over the past week, according to data from DefiLlama. From April 10 to April 15, the decentralized exchange (DEX) achieved an impressive daily trading volume of approximately $3.08 billion, marking a significant milestone in its operational history.
This increase in trading activity comes despite potential regulatory hurdles posed by the U.S. Securities and Exchange Commission (SEC). Notably, the DEX’s trading volumes have remained robust, fluctuating between $2.6 billion and $3.9 billion in the last five days, indicating a steady user engagement despite the increased risk of legal challenges.
As of April 16, Uniswap reported a total value locked (TVL) of $6.62 billion and a market capitalization of $5.65 billion. However, the platform’s native token, UNI, has experienced a downturn. According to CoinMarketCap, the UNI token’s value declined by 37.5% over the past week, falling from a high of $11 on April 10 to just below $6 by April 13. At the time of reporting, the UNI token was trading at $7.15, reflecting an 8% decrease in the last 24 hours.
Further complicating matters, Uniswap CEO Hayden Adams disclosed that the SEC had issued a Wells notice to the company on April 10. This notice is often a precursor to formal legal action and offers the recipient a chance to address the allegations laid out by the agency.
In response to the looming legal pressures, Uniswap has adjusted its commission structure, raising fees from 0.15% to 0.25%. This strategic move could be aimed at bolstering the platform’s financial stability amidst uncertain regulatory conditions.
