Uniswap Reportedly Down Due to Some Technical Glitch

Uniswap To Capture Certain User Data For Better User Experience
  • It was also noted that the alternative version might be used until the first one is fixed.
  • It was emphasized by users that the front end was the primary source of the problem.

Many users have complained that they have been unable to use Uniswap for a long time. According to WuBlockchain, the Uniswap discord mod said that the web app was down for everyone.  It seems that there is a problem with Cloudflare’s routing, according to reports. It was also noted that the alternative version might be used until the first one is fixed.

It was emphasized by users that the front end was the primary source of the problem. The contracts, however, are not down. Since the front end is where the vast majority of users engage with the system, this would indicate that the platform is unavailable.

Demand For DEX on Rise

Uniswap (UNI) has dropped in value by almost 5% during the last 24 hours on the market. At the time of publication, UNI is trading at a price of $5.83. Trading volume in a day is down 34% to $114 million. DefiLlama reports a little increase in UNI Total value locked (TVL) over the previous week. This figure is now $3.7 billion.

On November 15 nevertheless, the protocol revealed that Uniswap’s Web app had hit a 2022 user peak. Furthermore, it said that there is a need for openness and self-custody. In an effort to feel safe, users are gravitating to familiar platforms.

Uniswap overtook Coinbase as the second-largest Ethereum-trading platform on the market on November 14th, behind only Binance. Compared to the second biggest centralized exchange, Coinbase, roughly twice as many Ethereum transactions took place on Uniswap.

Trading on a decentralized exchange (DEX) gives users more protection against withdrawal freezes and network disruptions than they would have on a centralized platform.

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An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.