🦄 Uniswap | DEX <--> CEX

    What are the factors that are driving the flow of UNI tokens between CEX and DEX?

    Introduction

    UNI tokens are the native tokens of the Uniswap protocol, a decentralized exchange (DEX) that allows users to trade cryptocurrencies without a centralized authority. In recent months, there has been a growing trend of UNI tokens being transferred from Centralized Exchanges (CEX) to Decentralized Exchanges (DEX). This trend suggests that there is increasing interest in UNI tokens among decentralized finance (DeFi) users.

    In this paper, we will examine the flow of UNI tokens between CEX and DEX in the past 30 days. We will identify the volume of UNI tokens being transferred from CEX to DEX and vice versa. We will also determine which exchanges have the highest volume in terms of USD and analyze whether more UNI tokens are flowing into or out of these exchanges.

    Metrics
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    DEXs
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    Analysis
    • Volume and Direction: Over the past 30 days, the total volume of UNI tokens transferred from Centralized Exchanges (CEX) to Decentralized Exchanges (DEX) was 22,259,208 UNI tokens, while the total volume transferred from DEX to CEX was 22,672,332 UNI tokens. This suggests a balanced flow of UNI tokens between the two types of exchanges. However, it's worth noting that the net volume of UNI tokens transferred from CEX to DEX was positive, indicating a higher volume of tokens moving towards DEX platforms overall.

    • Dominant CEX Platforms: Among CEX platforms, Coinbase and Binance exhibited the highest total volume of UNI tokens over the past 30 days, with 18,983,518 UNI and 18,145,707 UNI, respectively. This highlights the significance of these platforms in terms of UNI trading activity. Other notable CEX platforms include OKEx, Kraken, and Gemini. These findings suggest that these CEX platforms attract a substantial amount of UNI trading volume, likely due to their reputation, liquidity, and user base.

    • DEX Platform Analysis: Uniswap v3 emerged as the DEX platform with the highest UNI trading volume, amounting to 30,245,963 USD. It was followed by Uniswap v2, Hashflow, and Sushiswap. Uniswap v2 had the highest number of active users over the past 30 days, indicating its popularity and user engagement. Other DEX platforms, such as Balancer and Shibaswap, also demonstrated a considerable number of active users. These findings highlight the significance of Uniswap, both in terms of trading volume and user activity, further solidifying its position as a prominent DEX platform in the UNI ecosystem.

    In summary, the analysis reveals a balanced flow of UNI tokens between CEX and DEX platforms, with a net positive volume moving towards DEX. Coinbase and Binance stand out as dominant CEX platforms in terms of UNI trading volume, while Uniswap v3 leads the way among DEX platforms. These insights provide valuable information on the flow and distribution of UNI tokens, enabling a deeper understanding of the dynamics between centralized and decentralized exchanges in the UNI ecosystem.