Uniswaps ($UNIThe price rose about 4 to 5% over the past 24 hours on Tuesday, clawing back after a week of steady selling as traders rushed to cover shorts and fade what they saw as an overshoot to the downside.
$UNI spot prices hovered around $3.10-$3.20 during the European afternoon, up from the roughly $3.00 posted earlier this week, but still well below the $4.00 seen around major board news in late February and early March.
The move comes as Uniswap, an automated market maker and leading DeFi DEX whose governance token sits squarely in the DeFi/L1 infrastructure bucket, continues to trade as a high-beta proxy for on-chain liquidity rather than a purely idiosyncratic funding story.
Historical data from Yahoo Finance shows this $UNI closed around $3.10 on April 7, after trading at $3.12 on April 5 and $3.17 on April 4, highlighting how compressed the absolute trading range has been, even if intraday percentage swings appear dramatic.
Kraken’s price page lists Uniswap at around $3.15, up 1.82% in the last 24 hours, with a circulating supply of around 633.6 million $UNI and a market capitalization of just under $2.00 billion. WEEX cites a similar picture, which shows $UNI at $3.11 with a 24-hour volume of approximately $125.44 million and a market cap of almost $1.97 billion, reinforcing that today’s jump occurs within a broader multi-month range, rather than breaking it.
Derivative flows are in line with the short-term story. Although location specific $UNI Perp data remains fragmented, platforms tracking majors’ perpetuals have highlighted a broader pattern that has seen perpetual trading volume double over the past five months, even as total open interest rose only about 50%, from about $13 billion to $18 billion, before returning to $13 billion. That structure – more turnover relative to the outstanding risk borne – tends to highlight environments where traders trade range and do not build long-term positions, and $UNI‘s latest doll fits neatly into that template.
Crypto.news’ recent reporting on Uniswap’s price around the dismissal of a four-year lawsuit against scammers when $UNI trading near $2.83 after a 15% weekly rebound, the token described as heading towards the top of a $3.30-$4.12 band with a strengthening RSI, but still stuck below previous breakdown levels. Another crypto.news story from late February, written as $UNI was trading around $4.02 with a weekly gain of 18%, tying the move to a fee-switching expansion proposal that could lift protocol revenues to $61 million per year and potentially justify a push toward the $4.55-$4.60 zone. Along with the broader crypto.news reporting on Bitcoin’s recent decline and renewed risk jitters, $UNIThe last 12 hours resemble a mean reversal in a liquidity-sensitive DeFi token – driven by perp flows and dip buyers, but still waiting for sustained open interest and new governance catalysts before a new macro uptrend can be credibly announced.