The chief funding officer of the crypto asset supervisor Bitwise says he believes one decentralized finance (DeFi) venture on the Ethereum (ETH) blockchain is presently undervalued.
Matt Hougan says the market cap of Uniswap (UNI), which is roughly $6 billion, presently “feels too small.”
“[Uniswap] could be the four-hundredth largest monetary providers enterprise on the planet – roughly the identical measurement as Storebrand, a financial savings and insurance coverage enterprise in Norway.”
In accordance with Hougan, regulatory uncertainty could possibly be driving Uniswap’s present undervaluation, however that might change amid the U.S. Securities and Trade Fee’s (SEC) latest initiatives to supply regulatory readability for crypto belongings.
Per a Grayscale Analysis report launched in late June, Uniswap is among the many top-10 decentralized exchanges.
Over six months ending on Might thirty first, Uniswap ranked third by way of volumes. Uniswap generated $487 million in charges behind Solana-based decentralized exchanges Raydium, Meteora and Jupiter over that interval.
UNI is buying and selling at $9.89 at time of writing, up by 36% over the previous month and down by round 78% from the all-time excessive reached in Might of 2021.
Turning to Ethereum, Hougan notes that spot exchange-traded funds (ETF) of the second-largest crypto asset by market cap recorded $5.4 billion in internet inflows in July, the best month-to-month internet inflows ever.
“When you think about Ethereum is 20% the scale of Bitcoin, the size of these flows actually hits residence. Think about if Bitcoin ETFs did $27 billion in a month…”
In accordance with crypto ETFs tracker SoSoValue, the best internet inflows determine for spot Bitcoin ETFs was the $6.49 billion reached in November of 2024.
Observe us on X, Fb and Telegram
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Test Value Motion
Surf The Every day Hodl Combine
 
Disclaimer: Opinions expressed at The Every day Hodl should not funding recommendation. Buyers ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital belongings. Please be suggested that your transfers and trades are at your personal danger, and any losses you could incur are your duty. The Every day Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital belongings, neither is The Every day Hodl an funding advisor. Please notice that The Every day Hodl participates in internet affiliate marketing.
Featured Picture: Shutterstock/Philipp Tur/Vladimir Sazonov
