Uniswap Secures Massive Daily Volume Lead In The DEX Segment

Uniswap has emerged as the most popular Decentralized exchange in the latest wave of market recovery. But does the high level of activity enough to trigger more demand for its native token UNI?

Uniswap is one of the older DEXes that exist today and one of the top most popular ones during the 2021 bull run. However, the market had dramatic changes since then, with the decentralized world becoming more crowded and competitive.

Despite the growing competition, the latest market data revealed that Uniswap has been fairing quite well. It even managed to secure poll position in the list of top decentralized exchanges by volume.

The data also revealed that most of the volumes have been taking place in the Base layer 2 of the Ethereum network. Uniswap V3 on Base had the highest daily volume at $19.66 billion while Uniswap V3 on Ethereum had $1.34 billion in the last 24 hours.

For context, PancakeSwap V3 on the BNB chain, which occupied the third position, had a daily volume of $964.2 million. This means Uniswap V3 on Base was by far the most popular option.

Can UNI Token Benefit from Uniswap’s Dominant Position?

Most of the top coins have achieved significant recovery so far from April lows up to now. One would expect the same of Uniswap’s native token, especially considering the DEX’s current dominant position but that was not the case for UNI.

The UNI token was still under the foot of the bear up until the last 2 days, during which it achieved a massive surge. For context, UNI price bottomed out at $4.74 on Wednesday, and the bulls swiftly took over, pushing it as high as $6.70 at its high on Friday.

The UNI token’s 41% upside in the last 24 hours was impressive. However, even more noteworthy was the fact that the bullish spike on Thursday, yielded a 26.17% upside which made it the largest 24-hour bullish candle observed since the start of 2025.

More data also revealed that demand for the UNI token may have been building up. For context, the same bullish spike on Thursday was backed by $8.96 million worth of spot inflows. A significant jump from the $1.45 million worth of inflows observed on the previous day.

Interestingly, Uniswap’s spot inflows started building up in the second half of April, even though prices continued to decline until its recent lows. In other words, UNI’s latest rally was backed by a wave of demand that has been ballooning, indicating shifting sentiment.

Speaking of sentiment, the derivatives segment also demonstrated renewed interest in UNI in the last 24 hours. Derivative volumes were up to $1.01 billion after a 109.88% during the same duration. This marked the largest spike in volume observed in over 3 months.

Can UNI Maintain its New-Found Bullish Momentum?

The volume spike in the last 24 hours was mostly bullish but spot netflows in the last 24 hours, indicated that there was a spike in profit-taking. Nevertheless, the token’s price action still managed to stay in the green by over 2.5% at the time of observation.

What does it mean? The volume surge could potentially indicate a surge in retail demand that was able to provide liquidity for short-term sellers. It may still be too early to tell whether the recent demand will prevail especially with evidence of some profit-taking.

On the other hand, UNI was just coming off from an overall bearish phase that lasted roughly 5 months. The token still hovered at a 67% discount from its December 2024 peak despite its recent uptick. This could still make it an attractive discounted option relative to some of the other top coins and Uniswap’s recent utility surge could potentially aid in boosting investor confidence.

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