Lorenzo Valente said Uniswap maintained strong trading volumes and revenue even as Unichain recorded limited adoption and network activity. Valente said Uniswap V4 now accounts for about half
Ark Invest's Lorenzo Valente said Uniswap has emerged as one of the stronger-performing legacy crypto projects this cycle despite weaker activity on Unichain. In a thread shared this week, Valente highlighted resilient trading volumes, growing revenue, adoption of Uniswap V4, and the activation of its fee switch, while noting that tokenized stocks are also approaching the protocol.
According to Valente, Unichain has struggled to gain traction since launch. He said the layer-2 network now generates roughly $5,000 to $7,000 in monthly REV.
Additionally, Unichain processes about 3,000 daily transactions, while total value locked stands near $30 million. Valente said activity across the network remains limited.
However, he contrasted those figures with Uniswap's core automated market maker business. According to him, the protocol continues handling about $15 billion in weekly trading volume.
Valente added that Uniswap processed roughly $20 billion to $25 billion in weekly volume during the 2021 market peak, showing relatively stable activity over time.
According to Valente, each major Uniswap upgrade has gained user adoption. V2 overtook V1, while V3 later became the dominant version.
More recently, V4 surpassed V3 and now accounts for about half of protocol activity alongside V3. The latest version also introduced the protocol's fee switch.
Valente said Uniswap now generates more than $1 million in weekly revenue across Ethereum, Base, and Robinhood Chain. That equals roughly $5 million each month, or an annualized run rate near $60 million.
He also said the V4 fee switch currently burns about $90 million worth of UNI annually based on the trailing seven-day pace.
Meanwhile, UNI traded at $3.88 during the analysis. The token remained below its 50-day moving average of $4.04 but stayed above the 200-day average of $3.64.
Source: Santiment The chart showed support between $3.05 and $3.20 after June's rebound from roughly $2.40. Meanwhile, resistance sits near $4.04 before the $4.20 to $4.40 range, where recent selling pressure appeared.
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