Uniswap was one of the currencies whose market value was reduced by more than $500 million as a result of the massive sell-off by individual whales and institutional investors during the May market crisis.
- So far in 2022, UNI has remained below $20.
- Due to poor market sentiment, the Uniswap market cap continues to decline.
- By the end of May, the market capitalization of Uniswap was over $4 billion.
According to DeFiLlama, Uniswap has caught the attention of various market experts as one of the world's leading decentralized finance (DeFi) initiatives, having lost $1.42 billion in total value locked (TVL) in May.
According to USA GAG Research, UNI had a market value of around $4.09 billion at the end of May.
This represented a 16% decrease from the market value on the first day of the month. On May 1, UNI had a trading volume of $194.09 million, equating to a market capitalisation of around $4.92 billion.
Why is market capitalization falling?
The declining market capitalization of Uniswap is to blame for a huge drop in the entire market value of digital assets in May.
Many market experts attribute the massive sell-off to a collapsing stock market that is heavily associated with the crypto market, the uncertainty of the Russia/Ukraine situation, which has contributed to a surge in commodities prices, and the Fed's continual rises in interest rates.
In May, the number of major transactions with UNI hit a high of 185,000 on May 4 at a price of $7.56.
The overall volume peaked at 33.25 million UNI on May 16.
The total dollar volume was $168.99 million.
UNI began at $5.45 on May 16, and this was its intraday high. The coin hit an intraday low of $4.94 before closing at $5.04. The day's trading volume was $161.92 million, resulting in a market capitalisation of $3.76 billion.
The opening day market value of UNI fell by 26 percent. Due to the price fall, UNI was unable to recapture its peak market value for the remainder of the month.
UNI price movement
UNI began at $6.77 on May 1, to a monthly high of $8.08 on May 5, tested a monthly low of $3.80, and completed the month at $5.70. Overall, the difference between the opening and closing prices of UNI in May is 15%.
