Uniswap Breaks New Record: Price Slumps, But Whales Buy Amidst Explosive Volume

Uniswap’s UNI token has seen a significant dip in recent weeks, plummeting to a low of $9.37 – down over 23% from its August peak. However, this decline hasn’t deterred large investors who continue accumulating UNI tokens as the network’s trading volume explodes to record levels. 2023 is proving to be a profitable year for Uniswap, handling more than $724 billion in transactions so far. DeFi Llama data shows transaction volume hitting a record high of $143 billion in August alone, exceeding previous benchmarks.