Uniswap’s Trading Soars Despite Token Value Decline

Despite a decline in its native token UNI’s valuation, Uniswap’s trading volume has reached unprecedented levels. Monthly trading volumes have surged past $116 billion, with UNI’s market cap dropping from $21.7 billion to $6.8 billion. This discrepancy highlights the divergence between protocol growth and token value, prompting questions about how these metrics might evolve in the future.