25 Sep 2020 Samantha McLauren
UNI Token Surges Despite High Percentage Of Exchanged Airdropped Tokens
Uniswap, one of DeFi’s leading lending protocols, conducted a massive 150 million token Airdrop campaign with 78% sold out and traded rate of all rewarded tokens. The loyalty bonus was Airdropped overnight, while prices for Uniswap subsequently spiked to $8 at the time of distribution.
After the Airdrop distribution, the large quantity of sold and exchanged UNI tokens caused the token price to decrease drastically.
Data from Dune analytics shows that as much as 191,371 users are eligible to receive their UNI tokens rewards. The total number of the traded UNI tokens is over 117.4 million, or 78% of the total reward pool.
Source: Dune Analytics
The largest amount of UNI tokens, however, was claimed on Thursday, September 17, with trading stats dropping ever since. Despite that, there are nearly 30 million UNI tokes that still remain unclaimed by users.
Source: Dune Analytics
Dune analytics also made a comparison with one of the tech industry’s biggest companies, Apple. According to the on-chain analytics provider, only 17 percent of iOS users installed the new operating system in the same period.
“Beyond the 83,333.33 UNI per pool per day (four pools) for liquidity mining it seems fair to assume that circulating supply is now going to be fairly stable in the next couple of months.”, Dune noted.
At the time of writing, at least $1.46 billion were distributed across the four UNI liquidity pools, with ETH/WBTC being the most popular with 30% of the total value.
Meanwhile, the price per UNI token started surging and is currently a little over $5, as the crypto market regained the losses after a week of downwards momentum. The token climbed from a low of $3.70 on September 22, reaching the current level of $5.03 as of press time.
Looking at the total value locked (TVL) levels, Uniswap dropped the leadership to take the second spot on the DeFi ecosystem with a TVL of $1.87 billion, according to data from DeFi Pulse. The leader, Maker, regained a top position with a market share of 18 percent.Airdrop Cryptocurrency Crypto Market Exchanges News crypto market monitoring token tokens decentralization digital asset analysis Research Prices Defi Decentralized Finance Uniswap