What Uniswap governs
Uniswap (UNI) is a DeFi protocol governance token, currently ranked 33rd by market capitalization among the assets we track. Rather than being money itself, Uniswap is a claim on a financial protocol. Its worth tracks the fees, liquidity, and usage of the application beneath it far more than any monetary narrative.
Uniswap (UNI) is a decentralized exchange protocol enabling users to swap various cryptocurrencies without the need for a centralized intermediary. It operates on the Ethereum blockchain and uses an automated liquidity protocol.
How value is supposed to accrue
The economic question is whether Uniswap captures the value its protocol creates. Total value locked and fee revenue are the inputs; the token's design decides how much of that reaches holders.
UNI is not mined; it is issued as a token rather than secured by its own mining or staking layer.
Background & fundamentals
The project publishes a whitepaper documenting its original design, which is worth reading before sizing any position in UNI. In sector terms it is most often filed under Ethereum (ETH) Token (ERC-20), DeFi, and Exchange.
Where Uniswap sits in the market
With UNI near $2.80, Uniswap carries a market capitalization of $1.77B. Around $101.47M changes hands across exchanges in a typical 24-hour window. That is a turnover of about 5.75% of the float — a healthy level of activity for an asset this size.
Almost the entire UNI supply is already in circulation (~100.0% of the 1B cap), so future dilution is effectively off the table. UNI remains -94% beneath its all-time high of $45.01, the kind of gap that historically takes a full cycle or a fresh catalyst to close.
What the price history shows
Recent moves read 24-hour -5.98%, 7-day -2.26%, 30-day -9.28%, 1-year -54.48%. Within its stored 365-day daily history, UNI mounted a low-to-high run of roughly 106% at its strongest stretch.
Volatility profile
Recent action puts Uniswap in the High-volatility band — it has been actively trading, with daily moves that would be unusual in traditional equities. Over the last 30 days the move totals -9.28%, a useful input for stop placement and position sizing.
How to evaluate a DeFi token like Uniswap
For an asset of this type, three lenses matter most:
- Protocol revenue — fees the application actually earns, and whether any of it reaches UNI holders.
- Total value locked — how much capital trusts the protocol — and how sticky it is versus mercenary yield.
- Token utility — whether UNI is load-bearing (governance over real value, fee rights) or decorative.
This page pulls live market data, on-chain stats where available, exchange-by-exchange volume, and our forecast model into one view so you can work through those questions in a single place. None of it is investment advice — it is a structured starting point for your own research.
