In the midst of the ongoing fiat trading platform (FTX) scandal, the attention of the market as a whole has steadily switched toward prominent decentralized exchanges (DEXs). The most current statistics from Lunar Crush reveals that among all of the decentralized exchanges, Uniswap has received the most interest from investors with a longer-term perspective.

According to the co-founder of Luna Crush, the number of social mentions for UNI was 1.6 times more than that of ETH. During this time, the social engagement index increased by a factor of 6.2 times. These events demonstrated an increase in the number of debates regarding decentralized exchanges like Uniswap.

In addition, the weighted sentiment indicator that UNI uses has shown signs of improvement during the past several days. The cryptocurrency community seems to have more favorable arguments regarding Uniswap, as seen by an increase in the weighted emotions.

Taking a Look at the Numbers

Between November 9 and November 11, Uniswap fees were found to have increased. Despite this, the same statistic got worse after November 11 and continued to go worse after that. Additionally, same patterns were exhibited by the daily active user measure. In the meanwhile, despite the decline in fees and trading activity, Uniswap's overall income has remained high and has even increased by 45 percent over the course of the last month. The amount of cryptocurrency traded increased by forty percent.

It's possible that the rising trading volume is responsible for Uniswap's ascent to the top of the charts in the DEX marketplace. In addition to that, UNI demonstrated a commanding presence with regard to the pool value. Dune discussion reveals that Uniswap's pool worth has surpassed that of SushiSwap in the recent last several months.

In addition, the positive changes that have been favorable to Uniswap demonstrate why UNI has garnered a greater amount of interest from whales. According to data provided by WhaleStats, a service that tracks whale activity, UNI was one of the coins that was owned the most by the top 100 ETH whales.

Following a drop of around 5.07% over the course of the previous 24 hours, UNI was trading for close to $5.94 at the time this blog post was published. During that period, the volume of the token saw a drop that was equal to 25 percent. During the time that this publication was being written, the cryptocurrency market as a whole continued its bearish trend. The prices of the majority of digital assets went down as investors considered their options in the wake of the most recent market crisis.

As I was writing these lines, the total market capitalization for cryptocurrencies around the globe was at $830.42 billion, an increase of 0.32% over the previous twenty-four hour period. The bears were clearly in control of the market, and they predicted even more price drops in the period ahead.

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