🦄 Uniswap crossed $20B in tokenized stocks – But UNI is still 24% below September
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
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?
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the highest positive net inflow of approximately $6.85 million, suggesting that more UNI tokens were deposited than withdrawn during the period.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.
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.
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