Despite looming concerns of a regulatory showdown with the U.S. Securities and Exchange Commission (SEC), Uniswap, the decentralized exchange (DEX), has witnessed an impressive surge in its daily trading volume, reaching a staggering $3.08 billion between April 10 and April 15, according to data from DefiLlama.
This milestone achievement signifies that Uniswap has managed to maintain its robust trading activity, even amidst the backdrop of potential legal challenges from the SEC.
Despite the increased risk of regulatory intervention, users have continued to flock to the platform, with trading volumes fluctuating between $2.6 billion and $3.9 billion over the past five days.
As of April 16, Uniswap’s total value locked (TVL) stands at $6.62 billion, accompanied by a market capitalization of $5.65 billion, signifying its resilience and significance within the decentralized finance (DeFi) ecosystem.
However, the bullish performance of Uniswap’s trading volume contrasts with the downward trajectory of its native token, UNI.
Over the past week, UNI’s value has plummeted by 37.5%, with its price dipping from $11 on April 10 to below $6 just three days later.
Presently, UNI is exchanging hands at $7.15, reflecting an 8% decline over the past 24 hours, according to CoinMarketCap data.
The anticipation of potential regulatory action was palpable when Uniswap CEO Hayden Adams disclosed that the exchange had received a Wells notice from the SEC on April 10, typically a precursor to formal litigation or a final opportunity to address allegations.
In response to the regulatory uncertainty, Uniswap adjusted its fee structure, hiking trading fees from 0.15% to 0.25%, signalling a proactive approach to navigating the evolving regulatory landscape while sustaining its operational integrity.
