24/7 Cryptocurrency News

Uniswap X Surpasses $1 Bln In Trading Volume, UNI Price Up 24%

UNI Price: Uniswap X's cumulative trading volume surpasses $1 Bln as new fillers come in accumulating more than 50% of the transaction volume.
Published by
Uniswap X Surpasses $1 Bln In Trading Volume, UNI Price Up 24%

Uniswap X, the permissionless and open-source protocol for trading across Automated Market Makers (AMMs) and other liquidity sources, has reached a milestone, with its cumulative trading volume surpassing $1 billion since its launch in July this year.

Market makers Wintermute and Tokka Labs have consistently dominated, accounting for 60%-80% of the daily trading volume.

Advertisement

New Fillers Taking Over On Uniswap X

Despite the current Defi market domination, there is room for new and different players to emerge on top. In a noteworthy event, a recently onboarded Filler on Uniswap X claimed the top spot within the past month.

Currently, there are 15 active Fillers, with 4 more onboarding. The competition among Fillers is intensifying, raising questions about the optimal number of Fillers to achieve the best price and the shortest transaction time.

In the last month, a new Filler disrupted the status quo by capturing over 50% of the volume since its onboarding, dramatically reducing the 2nd filler’s share from 90% at the launch to approximately 20%. The 3rd Filler also commands around 20% of the trading volume, and notably, all three top performers are market makers.

Source: X

A market observer and an X user initiated the conversation by sharing a spicy take, questioning the competitiveness of pricing when just a few market makers supply a significant portion of the volume. The ongoing criticism of Request for Quote (RFQ) in DeFi, where 2-3 market makers often dominate volume, raises intriguing considerations about the overall competitiveness of pricing.

Also Read: BitMEX Founder Arthur Hayes Predicts Impending BTC Price Rally, Here’s Why

Advertisement

Uniswap Surges As Defi Market Hits 14-Month High

Since the latest crypto bullish wave, Uniswap (UNI) has been the best-performing top coin. Over the last seven days, the Uniswap price has increased by around 24%, from roughly $5.09 to $6.35.

The transaction lifted UNI’s market value to $4.8 billion, its highest level since August. UNI is currently valued more than Bitcoin Cash (BCH), but it is still 86% less than its all-time high, which reached its peak in 2021.

Additionally, it has been seen that token holders are cutting out a profit after the price jump. As per Lookonchain data, user stevu.eth withdrew a substantial amount of UNI tokens from Binance, holding a sizable amount valued at $3.18 million.

Talking about the whole Defi market, the ecosystem is blooming. As of November 2023, the total Defi market cap resides at $58 billion according to TradingView data. The Defi market hit the valuation 14 months after the previous Defi bubble in 2022.

Also Read: Elon Musk’s X Faces Potential $75 Mln Ad Revenue Loss Amid Major Brands Exiting

Share
Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes

Ethena Labs has secured fresh funding from ArkStream Capital as it expands its ecosystem in…

September 6, 2025
  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun Justin Justin Sun responded to World Liberty Financial freezing his wallet by promising…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA announced that it now holds $5.9 billion worth of Bitcoin. This cements its position…

September 6, 2025
  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025