• Uniswap has recently been ranked as the top DeFi platform in terms of social activity.
• However, it lags behind in other essential metrics such as Total Value Locked (TVL) and volume.
• The UNI token has defied the downtrend with bullish momentum, increasing its value by 4%.
Uniswap Ranked Top Among Defi Platforms
Uniswap recently emerged as the top Defi platform regarding social activity in a ranking conducted by CryptoDep on July 6th. It secured an impressive score of nearly 30,000 points, while the second-ranked platform lagged with approximately 3,600 points. This indicates that Uniswap is dominating in terms of social activity within the Defi sphere.
TVL and Volume
As per DefiLlama , Uniswap’s Total Value Locked (TVL) exhibits a slight upward trend at present amounting to approximately $4 billion. Most of this value is contributed by V2 and V3 which account for a TVL of over $1.1 billion and $2.8 billion respectively. In terms of volume excluding a notable spike on 13 March, no significant movements were observed currently standing at around $861 million but V3 showcased a substantial volume of over $1 billion at the time of writing indicating its popularity among Defi users.
UNI Price Trend
The UNI token has defied the downtrend with bullish momentum increasing its value by 4%. This gives reason for UNI investors to rejoice despite days of downtrend leading up to this point.
Conclusion
In conclusion, although Uniswap dominates in terms of social activity within the Defi sphere it needs to catch up when garnering attention in other essential metrics such as TVL and volume if it wants to remain competitive among other platforms. However, UNI investors have something to celebrate about as their investments are performing well despite recent market conditions indicating positive sentiment surrounding them..
Takeaway
The takeaway from this article is that although Uniswap dominates in terms of social activity within the Defi sphere it still needs to improve when garnering attention in other essential metrics such as TVL and volume if it wants to remain competitive among other platforms however UNI investors have something to celebrate about as their investments are performing well despite recent market conditions indicating positive sentiment surrounding them