According to Glassnode reports, #Uniswap 's trading volume is on a downward trend.

The decline may be due to the shift towards Layer 2 solutions against Ethereum.

The cumulative trade volume of Uniswap V2 and V3 is close to $ 4 billion.

According to a recent report, the trading volume of Uniswap (UNI) has fallen. This downward trend allowed us to look at other important metrics of the decline and whether it affects the course of the UNI token. Since the trading volume usually serves as a barometer of market activity and interest, the performance of the UNI token may in some way depend on the health of the Uniswap ecosystem.

Critical Report from Glassnode to Uniswap!

Glassnode's latest post sheds light on Uniswap's volume decline in Ethereum, especially compared to previous years. The data showed only two notable exceptions to this trend: an increase in volume during the increase in interest in Liquid Staking Tokens (LST) and another increase during the launch of meme tokens on the platform.

The decrease in volume was not due to a lack of transactions at Uniswap. A closer examination of the distribution of trade volume in different Glassnode Layer 2 solutions revealed a more comprehensive understanding. A significant part of the trading activity has been transferred from the Ethereum mainnet to Arbitrum.

As of March, Arbitrum attracted up to 32% of Uniswap's trading volume, which may indicate a noticeable shift away from Ethereum. July June This trend continued and remained high in both June and July, which provided a convincing explanation for the volume decline in Ethereum.

Uniswap V3 Innovations!

The latest iteration of Uniswap, known as Uniswap V3, has exhibited a positive volume trend recently. At the time of writing, according to DEFILLAMA's data, the weekly trading volume for V3 exceeded $ 2.5 billion. At the same time, the previous version of the platform, Uniswap V2, also had a considerable volume of about $ 1.2 billion. This cumulative trade volume in Uniswap V3 and V2 was approximately $4 billion.

In addition, as of the latest available data, TVL in Uniswap has experienced a slight decrease, currently hovering around $ 3.7 billion. However, this performance showed a much better trend compared to the previous decline experienced in March. Uniswap's daily timeline chart has shown a clear and remarkable upward trend in recent days. July August December1, UNI in particular witnessed an impressive price increase of over 15% as the price range tool shows. december25 december1 december25 december1 December25 december25 December 2015. #BTC #Binance