Uniswap

Today's state: Uniswap is trading at $3.26 with a $2.1 billion market capitalization (rank #45). The price moved -0.24% over the past 24 hours and is -12.56% over 7 days; the 30-day move stands at +0.75% and the 90-day at -7.66%.

Position vs cycle: A drawdown of more than 70% from the last cycle high puts the asset firmly in deep-bear territory, where recoveries have historically required a fresh demand catalyst rather than mere mean-reversion.

Volatility and structure: 30-day realized volatility of 76.0% annualized is high for an asset this size. Our composite multi-horizon Price Strength reads Bearish (30/100), against a weakening multi-horizon backdrop with cumulative pressure across 30/90-day windows.

To place UNI in the wider market, its 90-day return correlations against the two other largest layer-1s show whether it trades as crypto-market beta or on its own drivers. The Pearson figures across daily log returns:

• Bitcoin reference: +0.47 — a moderate positive relationship.
• Ethereum reference: +0.56 — a moderate positive relationship.
• Solana reference: +0.48 — a moderate positive relationship.

When an asset correlates strongly with multiple majors, it is trading largely as market beta — the big caps set the direction and standalone outperformance is elusive. Weak or negative correlations instead signal idiosyncratic forces (its own news, sector rotation, narrative changes) capable of producing returns the broader market does not share.

Uniswap (UNI) is a decentralised-finance token, governing or fee-collecting on a DeFi protocol. It trades at $3.26 as of the latest update, with a 24-hour move down 0.25%, placing it at rank #18 by market capitalisation among all listed digital assets. Uniswap's current market cap stands at $2.05B, a figure used by traders, analysts and institutional desks to gauge relative liquidity and risk exposure across the crypto market.

On this page you'll find a live, daily-refreshed dashboard tracking Uniswap across multiple data sources — price history going back several years, on-chain activity where available, fundamentals like circulating supply and dilution, top exchanges by volume, technical analysis using moving averages and RSI, and an algorithmic short, mid and long-term forecast. All figures are pulled from public APIs and cached locally; nothing here is investment advice.

Uniswap is the governance asset of a working DeFi protocol; the cleanest mental model is equity in that protocol. What backs it is fee revenue, total value locked, user growth and how well-run the governance is — not the price of an external asset.

Uniswap (UNI) is a top-50 asset, ranked #45 among all tracked tokens by capitalisation. About 63% of the maximum UNI supply is in circulation today (630.33M of 1.00B), leaving a moderate emission stream still to come. It currently trades about 93% below its all-time high of $45.01 set in May 2021.

Holding Uniswap means holding a say in how the protocol is run — votes on fees, supported assets and treasury use — and, in revenue-sharing designs, a slice of what the protocol earns. Its value is therefore anchored to the protocol's usage and cash flows rather than to any single underlying asset.

Uniswap (UNI) is a top-50 asset, ranked #45 among all tracked tokens by capitalisation. About 63% of the maximum UNI supply is in circulation today (630.33M of 1.00B), leaving a moderate emission stream still to come. It currently trades about 93% below its all-time high of $45.01 set in May 2021. Its fully-diluted valuation of $3.22B is about 1.6× the circulating market cap of $2.05B, a gap that signals issuance overhang to factor into any longer-term thesis.

Primary use cases: governance participation (voting on parameter changes), fee-sharing or rebates in protocols that distribute revenue to stakers, collateral on lending markets (for the major tokens), and exposure to the underlying protocol's growth.

Daily volume runs at about 9.5% of market capitalisation ($194.04M in the last 24 hours), in the normal band for a coin of this size and supportive of orderly entries and exits.

To read Uniswap's tokenomics, look at the issuance schedule, the share of supply already in circulation, and the gap between market cap and fully-diluted valuation. Approximately 63.0% of maximum supply is currently circulating, meaning roughly 37.0% of total potential supply remains to be issued. This implies a structural emission stream against current demand for the asset. The fully diluted valuation (FDV) of $3.2 billion stands at 1.6× the current circulating market cap of $2.1 billion. The wider this ratio, the more issuance overhang the asset faces — a structural headwind on valuation that mature assets like Bitcoin do not face but that early-cycle assets typically do.

Whether the tokenomics help or hurt comes down to value accrual versus dilution — fee burns, reinvested staking yield and TVL growth on one side, scheduled emissions on the other. A favourable balance lets price grind higher without hype; an unfavourable one means the asset must keep attracting demand just to absorb issuance.

At the top of the macro stack sit interest rates, dollar liquidity and risk appetite, and crypto has tended to amplify all three. Easing financial conditions and a weaker dollar have historically pulled the sector up; tightening liquidity and a firmer dollar have reliably pulled it back down.

Several traditional markets serve as useful cross-checks: a strong dollar (DXY) has tended to weigh on crypto; rising 10-year Treasury yields raise the cost of holding risk; gold occasionally trades as a parallel hard-money hedge; and US equities frequently move in sympathy with crypto when the driver is liquidity rather than fundamentals.

For Uniswap specifically, the macro variable that has empirically led price most often is global crypto-market liquidity — proxied by stablecoin total supply, futures open interest, and exchange volumes. When these expand, UNI tends to follow; when they contract, the relationship typically reverses. Given the 90-day BTC correlation of +0.47, UNI's near-term macro sensitivity will be similar to Bitcoin's — driven primarily by the same liquidity conditions and risk-asset flows.

Specific risks: protocol exploit risk (a flaw in the smart contracts can wipe out treasury and dilute the token), governance attacks (hostile actors acquiring voting power), revenue dependence on broader DeFi activity (cyclical), competitive pressure from rival protocols, and regulatory ambiguity around governance-token classification.