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Uniswap UNI/USD has grown into one of the biggest decentralized trading protocols and is known for facilitating automated trading on decentralized finance (DeFi) tokens.

The UNI token is the primary token for the Uniswap decentralized exchange and plays a vital role due to the fact that it’s a governance token, and its owners can participate in the decision-making process on how the platform is run, upgraded, and evolved in the future.

In fact, on August 10th, Uniswap surpassed $1 billion in fees. Keep in mind that this is only accounting for fees on Uniswap V2 and Uniswap V3.

There are many factors that have led to this development; however, it is important to note that Uniswap is one of the biggest trading protocols out there and consistently upgrades its portfolio of tradable tokens. 

The question on everyone’s mind right now is if they should invest in Uniswap, given the fact that it is one of the first protocols of its kind to surpass 1 billion in fees. Let’s find out.

On August 11, Uniswap (UNI) was worth $29.91.

When we look at its all-time high value, it was on May 3 where it climbed to $44.92. This gives us a perspective of how high the native token has climbed throughout its history. This marks a 33% decrease in value on August 11 when compared to its all-time high which could signal what kind of potential for growth the token has.

However, if we want to see its more recent performance, looking at July will give us a clearer perspective on the performance of the token.

On July 7, UNI climbed to $23.17, which marked one of its highest points of the month, however, when we look at the other end of the price spectrum, it fell to as low as $14.52 on July 21, which marked its lowest point. 

From its lowest point to its highest point, we can see a 38% difference in value. That being the case, its highest point in July is just 30% lower than its value in August 11.

When we look at data from IntoTheBlock, we can get a clearer picture of what’s actually going on.

In the last 7 days, we saw 1.01 billion in transactions greater than $100,000, which marks a new record.

Furthermore, we also saw total exchange inflows of $96.88 million and total exchange outflows of $114.3 million.

With all of this in mind, Uniswap will definitely break the $30 price threshold soon and even has the potential to climb to the $39 price range by the end of August at its current growth rate.

The post Is it the right time to invest in Uniswap after it surpassed 1 billion in fees? appeared first on Invezz.

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