Following the price increases and corrections seen in the crypto currency market, some crypto coins have suffered a significant loss of popularity. Cryptocurrencies such as UniSwap, Sushi, Cake have slipped down the rankings in the market. UniSwap is 18th with a market capitalization of $13.2 billion. while ranked PancakeSwap and SushiSwap 43, respectively. and 76. he fell into line.
UniSwap, SushiSwap and More
DEXthe rise of the was a critical factor in the price valuation of these tokens, but their current performance indicates a lack of momentum. What will be the status of these tokens as the market prepares for an uptrend rally at the end of December?
As of the moment of writing this article UNI $31, SUSHI it is trading at $14.50. SUSHI is currently going through a moving period, while UNI is in its eighth week of consolidation in the same price range. Both tokens remained 76% and 85% away from their May levels. When the above-chain fundamentals are observed, there does not seem to be a significant uptrend.
Now UNI it can be said that the active addresses for it have decreased to nominal levels. activity was large during the first quarter of 2021, and since the downturn, UNI has lost its sunday momentum. SushiSwap has drawn a similar picture with active addresses falling on a 7-day average. But the recent price performance has pushed up active addresses.
While the weekly DEX volume shows a high average, Uniswap remains dominant with 67%. The volume of DEX over the past 30 days alone has exceeded $ 90 billion, and the total number of DEX investors has swept 3.9 million. However, the Coingecko data recorded more 24-hour trading volume than the BSC-supported decentralized exchanges UNI V3 and UNI V2 over the past week, while overall DEX volume was observed to be dominated by haal PancakeSwap.
Technically Uniswap it should catch momentum because it remains one of the most active DEX’s on the market. This trend can have a domino effect when SushiSwap and UniSwap rise. Swiss-based ETP issuer Valor INC. On October 26, the leading decentralized exchange launched the world’s first ETP covering Uniswap’s management token DeFi it has seen significant adoption. Therefore, we may see significant attacks from Uniswap in the coming periods.