Four reasons why UNI is optimistic

• Uniswap daily active users are the highest than other DEX exchanges.
• Token Terminal data shows that UNI has collected $399 million in fees over the past three months.
• UNI’s 180-day trading volume is the highest in the DEX sector.

The price of Uniswap (UNI) is trading above $7.8 and up more than 6% at the time of writing on Thursday, reflecting optimism as on-chain metrics point to a strong performance. Token Terminal data shows that UNI has outperformed other decentralized exchange (DEX) platforms in terms of daily active users, fee collection and trading volume over the past three months. Moreover, the value of Santiment’s IPO has fallen steadily since August, suggesting a rise in investor confidence and a potential rally ahead.

Uniswap beats most DEX exchanges

Data from crypto aggregator platform Token Terminal shows how Uniswap has outperformed most decentralized exchanges over the past three months.

Uniswap’s daily active users help track network activity over time and align with bullish outlooks. The graph below shows that the daily active users on the Uniswap platform are 799,900, the highest daily users compared to the top 20 projects in the DEX sector. This indicates that demand for UNI’s use of the platform is increasing, which could propel Uniswap’s price up.

Top 20 DEX projects with daily active users. Source: Token Terminal

In addition, Uniswap’s fee collection exceeds that of other DEX sector platforms. Over the past three months, UNI has collected over $399 million in commissions, further strengthening the bullish outlook for UNI’s price.

Top 20 DEX Projects Fee Table. Source: Token Terminal

Another aspect that supports the optimistic outlook of the platform is the increasing interest and liquidity of traders in the UNI chain. UNI’s 180-day trading volume is $309.85 billion, the highest compared to the top 20 projects in the DEX sectors.

Trading volume chart of top 20 DEX projects. Source: Token Terminal

Finally, the supply value on the exchange fell from 76.74 million on September 28 to 75.58 million on Thursday and has been falling steadily since August. This 1.5% drop in supply on exchanges indicates growing investor confidence as holders pull UNI tokens off exchanges and store them in cold wallets, reducing selling pressure on UNI’s price.

UNI Supply on Exchanges chart. Source: Sentiment