One reason Uniswap [UNI] has been able to amass a lot of users is that the protocol allows connection to the exchange with
The Uniswap protocol came under intense criticism following its decision to introduce KYC. However, there are users who are not bothered by the development.has been able to amass a lot of users is that the protocol allows connection to the exchange with a personalized blockchain wallet under the full control of the users.
But with a “permission required” option on its off-chain servers, Uniswap may be tilting towards replicating one of the reasons market participants evade using Centralized Exchanges .on the DEX has been affected. According to Token Terminal, Uniswap’s trading volume was down to $280.7 million at press time — a 50.9% decrease in the last 24 hours.The drop in trading volume on the exchange means that there have been hesitant buyers and sellers.
Active addresses show the number of unique addresses transacting on a network. When the metric increases, it is a sign of increased interaction with the project. However, the decreaseFor the Network Growth, on-chain data showed that the metric also fell. At press time, Uniswap’s Network Growth was down to 237. This fall is proof that new addresses joining the network were not necessarily impressive. Hence, Uniswap could not boast of a hike in traction.
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