Uniswap has set a file with over 915 million transactions in 2025 and a buying and selling quantity surpassing $1 trillion. This achievement solidifies its place because the undisputed chief of DeFi.
Nonetheless, in stark distinction to this explosive development, the worth of the UNI token stays stagnant. This leaves many buyers questioning: why does a protocol producing billions in income yearly fail to ship worth to token holders?
Community Energy and Document-Breaking Buying and selling Quantity
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Uniswap (UNI) is experiencing a exceptional 12 months, with the variety of transactions (swaps) on its platform reaching 915 million in 2025 alone.
The third quarter of this 12 months is poised to turn out to be the very best buying and selling quantity ever, with roughly $270 billion in transactions, with greater than every week left within the quarter.
The alternate’s whole buying and selling quantity has surpassed the $1 trillion mark for the whole 12 months, a formidable milestone for any DEX.
Uniswap’s buying and selling quantity. Supply: Token Terminal
This development displays the maturation of the DeFi ecosystem and an more and more clear regulatory atmosphere.
These elements allow protocols like Uniswap to function securely and entice extra customers.
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Huge Income, But UNI Value Stays Sluggish
Uniswap Labs earns a formidable $50 million yearly, whereas the protocol’s whole transaction charges attain $1.65 billion yearly. Regardless of this, the income has not translated into worth for the UNI token.
The first purpose is that Uniswap lacks mechanisms for buybacks or direct revenue distribution to holders.
In actual fact, with a market capitalization of round $5.7 billion, many buyers are questioning UNI’s goal and true worth within the present atmosphere.
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Consultants and the neighborhood notice that UNI is more and more thought-about a “meaningless” token.
It fails to mirror the platform’s huge income and is hampered by opaque token distribution mechanisms and conflicts of curiosity between the core improvement crew and buyers.
“We’re not bear posting Uniswap. We’re bear posting $UNI. Just a complete nonsense token in today’s market & changing regulatory environment. Everything you and your VCs stand for is irrelevant. Turn on revenues & buybacks, or don’t bother having a token.” A person on X commented.
Echoing these sentiments, one other X person famous that the token-holding mechanism doesn’t incentivize worth.
The altcoins lacks a connection to the alternate’s enterprise efficiency. It additionally suffers from opaque token unlocks. All of those elements maintain UNI’s worth low regardless of the platform’s development.
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This creates a transparent hole between the platform’s and token’s values, making it troublesome for buyers to see the advantages of holding UNI.
Consultants suggest three strategic instructions for the UNI token to meet up with Uniswap’s true worth.
First, carry high-quality belongings on-chain to extend liquidity and entice customers. Second, tie the token’s worth to enterprise efficiency, for instance, by buybacks or distributing a portion of transaction charges to holders.
Lastly, reform the token provide mechanism to make sure transparency and stability the pursuits of builders and the neighborhood.
On the time of writing, BeInCrypto information exhibits UNI is buying and selling at $8.09, down 82% from its 2021 ATH.
