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Uniswap

UNI/USD #25 Crypto
$7.04+0.99%24h
24h Range
$6.89$7.20

UNI to USDT Converter

1 UNI = 7.0534 USDT · updated 06:21 UTC

Volume Bubbles Chart (1h)

Each 1-hour candle's volume is signed by its direction (up candles count as net buying, down candles as net selling) and drawn as a bubble at the closing price, green for buying and red for selling. Bubble size and colour intensity show how strong that flow is compared with the last 300 candles: the strongest 30% get full bubbles with their USD value, the rest stay as small dots. Unusually large bubbles flag aggressive buying or selling worth a closer look, often near breakouts, reversals or key levels.

Seasonal Chart

Plots one line per calendar year showing the % change since the start of that year, with the current year highlighted against up to four previous years. Lining the years up on the same calendar shows whether the price tends to rise or fall in the same months, helping you spot recurring seasonal patterns. Treat it as context rather than a forecast: past seasonality does not guarantee future moves.

Uniswap Markets

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Uniswap Historical Data

About Uniswap (UNI)

Uniswap is one of the best-known decentralized exchanges (DEXs). It is a set of smart contracts that lets people swap tokens directly from their own wallets. Nobody has to sign up for an account or hand funds to a company. Engineer Hayden Adams created it, and it launched on Ethereum in November 2018. UNI, the protocol's governance token, followed in September 2020. Uniswap now runs on many networks, including several Ethereum layer-2 chains, and in 2025 Uniswap Labs launched Unichain, its own layer-2 network. The Uniswap price on this page tracks the UNI token and comes from FMchart's composite of several large exchanges.

How an automated market maker works

Uniswap does not match buyers and sellers in an order book. It uses an automated market maker (AMM). Users called liquidity providers deposit pairs of tokens into pools, and traders swap against those pools. A formula sets the price from the ratio of tokens in each pool. As people buy one token, it becomes scarcer in the pool and its price rises. Each swap pays a small fee to the liquidity providers. Because prices come from pool balances, large trades in small pools can move prices a lot, an effect called slippage. Later versions added concentrated liquidity and, in 2025, "hooks" that let developers customize pools.

Voting with UNI

UNI gives holders a say in how the protocol evolves. They can vote on proposals or delegate their votes to others. Proposals cover protocol settings, deployments to new chains and the use of the community treasury. Voting happens on-chain, and a proposal must reach a minimum level of support to pass. Many holders delegate to community members or organizations that vote on their behalf. UNI is not needed to trade on Uniswap: swaps are paid in whatever tokens you are trading. The 2020 launch included a famous airdrop of 400 UNI to each address that had used the protocol.

UNI supply after UNIfication

UNI launched with 1 billion tokens. Sixty percent went to the community, and team, investor and advisor shares vested over four years. The token's rules allow up to 2% new UNI per year after that period. In December 2025, holders approved the UNIfication proposal with about 99.9% support. It switched on protocol fees that are used to burn UNI, and 100 million UNI were burned from the treasury. Supply now depends on both possible issuance and ongoing burns.

New pools, new risks

Pools are open to anyone, so new tokens often appear on Uniswap before they are listed anywhere else. That brings opportunity and a higher risk of scams. Look-alike tokens using familiar names are common, so contract addresses matter. Liquidity providers face impermanent loss, which happens when the prices of the pooled tokens move apart.

Risks for UNI holders

UNI's value depends on how the protocol develops and on governance decisions. Heavy trading on Uniswap does not automatically raise the token's price, even with fee-funded burns. DEXs face competition and regulatory uncertainty, and smart contracts can contain bugs. UNI has been a volatile asset.

Sources: Introducing UNI (Uniswap blog), Uniswap governance passes major 'UNIfication' proposal (The Block), Uniswap executes 100M UNI burn after fee switch approval (Cointelegraph), Uniswap v4 goes live (The Block, January 2025), Unichain mainnet is here (Uniswap blog, February 2025)

Last reviewed: Oct 8, 2026

Uniswap (UNI) FAQ

What is Uniswap (UNI)?

Uniswap is a decentralized exchange protocol that lets people swap crypto tokens directly from their wallets using smart contracts. UNI is its governance token, which allows holders to vote on changes to the protocol and its treasury. Uniswap launched on Ethereum in 2018, the UNI token followed in 2020, and the protocol now runs on several blockchains.

How does Uniswap work?

Uniswap uses an automated market maker. Liquidity providers deposit token pairs into pools, and traders swap against those pools instead of waiting for a matching order. A formula adjusts prices based on the balance of tokens in each pool. Traders pay a small fee on each swap, most of which goes to liquidity providers.

Who created Uniswap?

Uniswap was created by Hayden Adams, a former mechanical engineer who taught himself smart contract programming. He was inspired by ideas about automated market makers shared by Ethereum co-founder Vitalik Buterin. Uniswap launched in November 2018, and Adams founded Uniswap Labs, which builds products around the protocol.

What is the price of UNI today?

UNI is currently trading at about $7.0417 on FMchart's composite feed. Roughly $56.00M of UNI traded over the last 24 hours across the exchanges in FMchart's composite. That figure measures trading in the token, not the volume swapped on the Uniswap protocol itself.

What is Uniswap's market cap?

Uniswap's market capitalization is about $4.40B, placing UNI at number 25 among crypto assets by market value. About 624,486,422 UNI are circulating. Market cap measures the value of the token, which is different from the money traded on the protocol or the total value locked in its pools.

What is UNI's all-time high?

UNI's all-time high is $44.92, reached on May 2, 2021. The token's price has not always tracked how busy the Uniswap protocol is, which is a common pattern for governance tokens. A record high is history, not a forecast. The Price Statistics panel also lists the all-time low.

How has UNI performed month by month?

In FMchart's composite price history (since September 2020), UNI's best month is January 2021 (+244.0%), and its worst is April 2024 (-45.7%). It finished the year higher in 3 of 5 full calendar years. The Monthly Returns (USD) table highlights the strongest and weakest months, and the Historical data table lists daily prices. Past returns are not a forecast.

What is the Uniswap fee switch?

The fee switch sends part of Uniswap's trading fees to the protocol to burn UNI. Those fees previously went entirely to liquidity providers. Holders approved the change through the UNIfication proposal in December 2025, and as part of the same plan, 100 million UNI were burned from the treasury.

Is Uniswap (UNI) a good investment?

FMchart does not provide investment advice. Uniswap is a widely used DeFi protocol, and fee-funded burns now link activity to UNI supply, but that does not guarantee a higher price. The main risks are governance changes, regulation of decentralized finance, competition from other DEXs, smart contract bugs and high volatility.

What affects the price of UNI?

Trading activity on Uniswap is one key driver of the UNI price. The size of fee-funded burns, governance proposals, regulatory news about decentralized finance, competition from other DEXs and the overall crypto market also matter. Activity on Ethereum and the layer-2 networks where Uniswap runs plays a part too.