3 reasons why Uniswap (UNI) token hit a new all-time high above $15

Uniswap’s decentralized exchange has emerged as one of the critical pieces in the decentralized finance sector, with the DEX benefiting from the first-mover advantage after it became the go-to exchange for new projects and traders in 2020.

In late 2020, 400 UNI tokens were distributed to all wallet addresses that previously provided liquidity on the platform at at its peak thhe impromptu airdrop was worth north of $3,500.

UNI/USDT 4-hour chart. Source: TradingView
Total value locked in Uniswap. Source: Defi Pulse
Uniswap 24-hour volume. Source: Uniswap
Monthly DEX volume. Source: Dune Analytics