In the past 24 hours, Uniswap [UNI] became the talk of the town for all the good reasons. According to reports, the altcoin surpassed $20 billion in cumulative trading volume for tokenized stocks.
Naturally, this record trading volume placed Uniswap at the top among decentralized exchanges (DEXes) in terms of stock-token trading activity, indicating its growing role in the tokenization of traditional financial markets.
Uniswap steals the spotlight
Meanwhile, the platform has also recorded significant growth in tokenized commodity trading.
Over the past 24 hours, Uniswap led DEXes as it added $19.4 million in trading volume. This was approximately 35 times the growth recorded by Aerodrome, which ranked second.
That said, both of these events followed UNI, recording a 5.70% gain in four hours, climbing from $7.28 to $7.70 on Binance on the 4th of November. At the same time, its 24-hour price increase stood at 4.75%, indicating that most of the upward momentum occurred within the shorter four-hour window.
How did Binance act as a buoyancy for Uniswap?
This was further confirmed by CoinGlass data, which suggested that UNI’s 24-hour Spot trading volume stood at $154.11 million, while Futures volume reached $1.04 billion.
In that the Spot Volume heatmap showed that Binance dominated UNI trading activity, recording approximately $67.96 million in volume.
Simultaneously, the Net Inflow heatmap also showed that Binance recorded the highest positive net inflow of approximately $6.85 million, suggesting that more UNI tokens were deposited than withdrawn during the period.
Uncertainty remains
However, its active addresses showed signs of stability, fluctuating between approximately 1,800 and 2,200.
This came in after AMBCrypto’s recent report that Uniswap active addresses hit a 2026 high in late October. And, during the same timeline, Uniswap’s network growth also hit a 4-year high despite UNI’s 5.4% drop.
All of this coincided with UNI’s price trading at $7.58 at press time after a hike of 5.2% in the past 24 hours. Whereas, UNI’s market capitalization reached approximately $4.68 billion, placing it 22nd among cryptocurrencies.
Yet, this is quite a drop from the September peak when the altcoin was changing hands around $10.
Final Summary
- UNI’s 24-hour Spot trading volume stood at $154.11 million, while futures volume reached $1.04 billion.
- However, its active addresses showed signs of stability, fluctuating between approximately 1,800 and 2,200.
Credit: Source link