Uniswap's ranking in the U.S. App Store's finance category has seen a sharp downturn, prompting discussions within the cryptocurrency community.
Post-Election Ranking Dip
Throughout 2024, Uniswap maintained a rank in the 190s in the finance category of the U.S. App Store. Following the election of pro-crypto President Donald Trump, Uniswap's ranking soared to around the 110th position and reached a record-breaking 99th in January. However, since then, Uniswap's ranking has plummeted, dropping below 2023 levels, raising questions about potential underlying issues with the platform. While many cryptocurrency apps saw a post-election spike, most have returned to their pre-election standings.
SEC Investigation and Its Impact
The U.S. Securities and Exchange Commission (SEC) recently concluded its investigation into Uniswap, stating it would not pursue enforcement action. This came after the company received a Wells notice from the SEC in April 2024. Despite the seemingly positive news for the DeFi community, Uniswap usage on the Ethereum network has dropped by more than 45% since the start of 2025. Additionally, Uniswap's monthly trading volume declined 10% in December 2024, followed by a 22% decrease the following month. Recent large transfers of UNI tokens to Binance have raised concerns about potential price pressure.
Trends in U.S. Cryptocurrency Apps
In January, the top three apps in the finance category of the U.S. App Store were cryptocurrency trading platforms, including Coinbase, Moonshot, and Crypto.com. These achievements were partially driven by interest in cryptocurrencies spurred by President Donald Trump's meme coin. Other cryptocurrency apps like Coinbase Wallet, Robinhood, and Binance.US also featured prominently in the top 30 free apps in this category.
The current state of Uniswap and other cryptocurrency apps in the U.S. highlights how significant events and changes in the political landscape can influence the popularity of technologies and platforms in the short term.
