After the continuous ups and downs in the market over the past month, some coins have become weak. UNI, SUSHI, CAKE have slipped down in the crypto cap rankings.

At the time of writing, Uniswap was ranked 18th with a market cap of $ 12.8 billion while PancakeSwap and Sushiswap dropped to 44th and 78th, respectively.

The growth of the decentralized exchanges (DEX) was a key factor in the price increase of these tokens, but their current performance shows a lack of momentum. Will UNI, SUSHI, CAKE miss anything given the market prepped for a bull run at the end of December?

UNI and SUSHI: Path How far is it to ATH??

The source: Trade view

At the time of writing, UNI and SUSHI are both trying to overcome their immediate resistance at $ 31 and $ 14.5, respectively. While SUSHI is currently active, UNI is consolidating for the 8th week in a row in the same price range.

Both are still at 76.54% and 85.26%, respectively, of the ATH reached in May. Even with a view to the on-chain indicators, the numbers show little enthusiasm.

UNI price (green) and number of addresses that are active 24 hours a day (pink) | The source: Mood

At the time of writing, the number of active UNI addresses is reduced to nominal values. Activities took place in the first quarter of 2021 and since its collapse, UNI has gradually lost its attractiveness in the market. SushiSwap also paints a similar bearish picture of active addresses on the 7-day averages chart. However, recent price developments are driving up the number of active addresses.

SUSHI price (red) and number of active addresses (yellow) | The source: Mood

But is DEX dead?

DEX weekly volume | The source: Dune analysis

Currently, weekly DEX volume is high on average and Uniswap continues to dominate at 67%. DEX volume in the last 30 days alone is over $ 90 billion with a total dealer count of more than 3.9 million.

However, Coingecko believes that all DEX volume is still dominated by PancakeSwap, as the decentralized exchange supported by BSC has had more 24-hour trading volumes than UNI V3 and Uni V2 over the past week.

Will Uniswap miss it Hype train Price increase?

Technically, UNI still has momentum as it is one of the most active DEXs out there and SushiSwap will enjoy a domino effect once UNI rises. In addition, UNI organizations also accumulate. Valor Inc., a Switzerland-based exchange-traded monitor for the governance token of the leading DEX Uniswap.

Hence the chances of UNI missing the bull run are currently at 50:50, but given the solid technical indicators linked to DEX activity, UNI deserves a higher rank going forward.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

At home at home

According to AMBCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page