- Uniswap TVL has reached an all-time high of $2.821 billion.
- The TVL growth also follows the recent increases in the price of Bitcoin and Ether.
The largest decentralized exchange (DEX), Uniswap, has reached another all-time high (ATH) in the total value of assets locked in it. The exchange has been leading the decentralized finance (DeFi) for quite some time now, with the ATH coming amid the recent surge in the price of Ether (ETH). There has been less talk about the DeFi market in recent weeks, amid the upticks in Bitcoin and alternative coins.
Uniswap TVL nears $3 billion
According to the information provided by DeFi Pulse, the largest decentralized finance protocol reached another ATH of $2.821 billion. The growth of Uniswap TVL in the US dollar can also be related to the growing price of the respective digital currencies locked in the protocol. Currently, the leading cryptocurrency Bitcoin trades at $15,466, Ether $451, and DAI stablecoin at $1.01 on Coinmarketcap.
So far, about 3.116 million ETH, 30.471K BTC, and 200.921 million DAI stablecoin make up the current Uniswap TVL. Overall, the entire decentralized finance market has a total valuation of $12.45 billion, according to DeFi Pulse. Uniswap has a market dominance rate of 22.66 percent. Aside Uniswap TVL, other DeFi protocols with high valuation include Maker ($2.15B), Wrapped Bitcoin ($1.90B), Compound ($1.35B), and Aave ($1.12B).
Meanwhile, the Uniswap token (UNI) currently trades at $2.73 on CoinGecko.
DeFi calms as the crypto market goes into rally
Looking at the recent DeFi market caps, one can easily conclude that hypes and fuss in the decentralized finance market has calmed down. In November, the DeFi market valuation dropped to almost $10 billion as the cryptocurrency market went into a bull rally. This may have divided the attention of investors in DeFi to the crypto market.