Users Increase 140%, Is Uniswap Having Problems?

Bittime - Uniswap, a decentralized crypto exchange (DEX), is experiencing rapid growth! According to the latest data from Dune Analytics, the number of Uniswap users has jumped 140% in the last 12 months.

The platform, which was founded in 2018, now has 7.26 million users, up from 3.03 million in May 2023. This increase in users is in line with soaring trading volumes. Data shows Uniswap has surpassed $2 trillion in total trading volume!

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Not only that, Uniswap still leads as the largest DEX platform with a total asset value locked ( TVL ) of $5.31 billion. Its closest competitor, PancakeSwap, is in second place with a TVL of almost $2 billion.

Also read: Uniswap (UNI) Increases Transaction Fees on its Platform

Uniswap is increasingly expanding its reach. Recently, Uniswap partnered with Robinhood Connect. Through this collaboration, Uniswap application users can buy crypto directly using their Robinhood balance or credit card.

Regulatory Issues

However, amidst this rapid growth, Uniswap is facing regulatory issues. Uniswap Labs, the company behind the Uniswap platform, has received a Wells Notice from the United States Securities and Exchange Commission (SEC). This means the SEC intends to sue Uniswap Labs, similar to the case currently facing Coinbase.

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Experts assess this is the SEC's first step to target decentralized trading platforms. This action could be a signal that the SEC will tighten regulations in the world of DeFi (Decentralized Finance).

Following the news, Uniswap's native token, UNI, experienced fluctuations. Large investors (whales) took action and retail investors panicked. However, UNI prices are now back to stabilizing as investors support Uniswap to win a potential lawsuit.

Uniswap even raised trading fees, which experts believe is a move to face a legal case. This new fee structure charges a 0.25% fee for all swaps except stablecoin pairs and wrapping/unwrapping WETH (the wrapped version of Ethereum).

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Currently, UNI is trading at around $7.93 (around IDR 127 thousand) with little change in the last 24 hours. The UNI token price also rose 3% in the last week.

How to Buy Uniswap (UNI) on Bittime

You can buy and sell Uniswap (UNI) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Uniswap (UNI) is available on Bittime with the market pair UNI/IDR . To be able to buy UNI IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Uniswap (UNI) on Bittime . 

Monitor the price chart movements of Uniswap (UNI), Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Base Eyes ATH After Recording New Record on Uniswap!

Uniswap Prepares V4 Upgrade, UNI Price Increases 15% in a Week

Complete Guide: How to Use Uniswap on Metamask and Trust Wallet

Uniswap and Starknet on the Rise, KangaMoon Changes the Face of Meme Coins

DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.