Uni, Sushi, and Cake: Which One is Undervalued?
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Uni, Sushi, and Cake: Which One is Undervalued?
Since the current price of UNI is 52% of its ATH, while CAKE is only at 45%, we can expect CAKE to have greater growth potential as it shows more significant upside.
Navigating Web3 tides with focused insightsSource: Dapp.com
Translation: TechFlow
If you're a DeFi token trader, these three DeFi tokens should be part of your crypto trading portfolio — UNI, SUSHI, and CAKE.
As shown in the chart above, over the past 30 days, only UNI has experienced a price decline of 7.4%. Both SUSHI and CAKE saw significant price increases, rising +18% and +15.97%, respectively.
However, compared to their all-time high (ATH) prices, UNI is currently trading at 52% of its peak. SUSHI and CAKE stand at 49% and 45%, respectively. This means that despite positive price momentum for SUSHI and CAKE, both tokens are still further from their ATHs than UNI.
Does this imply greater upside potential for SUSHI and CAKE? We’ll explore this through fundamental and technical analysis below.
Fundamental Data Analysis
As we can see in the chart above, PancakeSwap has the most traders, while Uniswap recorded the highest trading volume over 30 days.
However, since crypto investing is about future expectations, we should focus more on growth strength to assess potential. All three DEXs still have a long way to go before reaching their historical highs in terms of number of traders and trading volume.
Regarding growth rates, two metrics showed negative trends: number of traders (-12.28%) and number of transactions (-26.58%). PancakeSwap demonstrated positive changes across all three metrics, with the most notable growth: traders up +34.31%, trading volume up +42.63%, and number of transactions up +12.56%.
Technical Data Analysis
Over the past 30 days, the number of holders, active addresses, and transfer volume for all three tokens have increased. However, compared to SUSHI and CAKE, UNI’s growth is relatively modest.
CAKE leads in total number of token holders (670.64k, +18.82%), active addresses (469.55k, +14.02%), and transfer volume (23.27B, +44.61%).
In terms of growth rate, CAKE also shows the most significant increases in holder count (+18.82%) and transfer volume (+44.61%).
Conclusion
The current UNI price is closer to its historical ATH, but Uniswap's fundamental data and UNI's technical data show the weakest growth among the three tokens.
CAKE demonstrates the strongest growth in fundamentals, while PancakeSwap leads in holder count, active addresses, and transfer volume metrics.
Therefore, even though UNI is currently trading at 52% of its ATH compared to CAKE's 45%, CAKE's stronger growth momentum suggests it may have greater upside potential going forward.
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