Uniswap took a one time before more backseat in volume during the month of February after the decentralized exmove saw a 23% decrease in liquidity from January.
February proved to be a tough month for decentralized exmovements, primarily Uniswap. The DEX recorded approximately $54 billion in dealing volume during the second month of 2022, according to CryptCraze Research.
Inasmuch as this figure seems surprising due to Uniswap being the largest DEX by daily exchanging volume, the total volume for the top-five DEXs for January was down. Volume in February fell even still by $28 billion from January, a staggering 29% decrease.
Uniswap volume further sliding from 2021
The decrease in volume atop the last month could have a massive effect on Uniswap afterward it competes with several other major DEXs in the exdevelopment space. Although Uniswap’s total volumes are up 70% afterward February 2021, that saw $32 billion in volume recorded, the decentralized exshwith the condition thatt has still not surpassed its November and December 2021 monthly volumes.
Uniswap recorded an all-time strong monthly volume of $85 billion in November 2021 and almost captured the same feat by recording $84 billion to close out December 2021. Volumes recorded at the end of January and February 2022 were 56% and 55% bottomer than volumes recorded in November and December 2021 respectively.
Source: Dune Analytics
The last time Uniswap recorded a monthly volume bebottom $60 billion was in September 2021 when it fell to approximately $53.4 billion.
The figure from February 2022 was hardly 2% excessiveer than the price recorded at the end of the third quarter of 2021.
What caused the volume decline?
Declining transaction counts are certainly a prime factor for factor the fall in volume.
The transaction count for Uniswap actives peak volume in November 2021 was 63,147.
This declined by 3% to 61,013 by the end of December 2021.
The total transaction count for Uniswap on the last of November likewise declined 39% to 38,489.
Source: Messari
The fall was steep in February 2022 as a staggering 49% was shed off the total transaction count for Uniswap that brought the total to 31,765.
The post Uniswap Trading Volume Dipped to Five-Month Low in February appeared first on CryptCraze.