In recent times, the crypto market has been dominated by bearish attitudes, but a few outliers have managed to break through. One such token is UNI, which has seen an impressive surge of over 12% in the past 24 hours. This has attracted investors who are looking for a bullish continuation in this altcoin.
The first quarter of this year has brought a lot of excitement for investors. Just this month, Uniswap reported a significant increase in swap volume on Arbitrum after its deployment on the platform. This news is accompanied by the announcement of Uniswap’s latest agenda: the launch of Uniswap v4.
Arbitrum swap volume has grown more than 4x since this time last year ?? pic.twitter.com/w4iEhKGUty
— Uniswap Labs ? (@Uniswap) February 16, 2024
What Is Uniswap V4?
After the news of Ethereum’s Dencun upgrade in the first quarter of this year, Uniswap announced that their latest protocol, Uniswap v4, will be launched in Q3 2024.
Now that the launch of Dencun on Mainnet has been scheduled for March 2024, we’re excited to provide an update to the community! ?
Uniswap v4’s launch is tentatively set for Q3 2024.
From community-built Hooks ( to events, to Twitter Spaces, the…
— Uniswap Foundation (@UniswapFND) February 15, 2024
In essence, Uniswap v4 is an upgraded version of v3, with improved efficiency and cost-effectiveness. According to Uniswap’s website, it is a “non-custodial, non-upgradeable, and permissionless automated market maker protocol.”
The first phase of v4 is currently underway, with developers finalizing the core functionalities and features of the upgrade. This will allow the team to add new features on top of the existing AMM design, eliminating the need for a completely new design.
UNI is currently trading at $7.462 on the daily chart: TradingView.com
UNI is currently trading at $7.462 on the daily chart: TradingView.comLeading The Innovation Charge
Uniswap is also taking steps to support innovation in the Web 3 space. Last week, the Uniswap Foundation X account released details of their new granting strategy.
? Introducing our Reimagined Grants Strategy
Our vision is simple: to make the @Uniswap Protocol the liquidity layer of the Internet.
As stewards of the Protocol and the Community, we have evolved our grants strategy to turn this vision into reality.
Here’s why and how ??
— Uniswap Foundation (@UniswapFND) February 7, 2024
The new strategy involves granting a minimum of $250,000 in four categories: developers, researchers, delegates, and innovation (all stakeholders).
There is currently no set date for the implementation of these new grants.
UNI: Challenging Week Ahead For Investors
As we approach the month of March, the market has seen a lot of hype, but this has since died down and been replaced by profit-taking attitudes. UNI is likely to experience some bearishness in the coming weeks as the market potentially dips.
However, investors and traders can find strong support at the 50% and 38.20% price levels, which will slow down any bearish movement and stabilize UNI’s price at around $7.3 and $7.
Featured image from Adobe Stock, chart from TradingView
<p>Disclaimer: This article is for educational purposes only and does not represent the opinions of NewsBTC on whether to buy, sell, or hold any investments. Investing carries risks, and readers are advised to conduct their own research before making any investment decisions. Use the information provided on this website at your own risk.</p>
</div><script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>Why Investors Can’t Get Enough of UNI: The Token That Skyrocketed Over 11%
Cryptocurrencies have been taking the financial world by storm, with their value and popularity soaring in recent years. While Bitcoin and Ethereum have been leading the pack, another token has been making waves in the market – UNI. Launched in 2020, this relatively new token has gained widespread attention and investment, with its value skyrocketing over 11%. But what makes UNI so attractive to investors? In this article, we’ll delve into the details of UNI and explore why it has quickly become a favorite among investors.
What is UNI?
Before we dive into the reasons for its popularity, let’s first understand what UNI is. UNI is the native token of Uniswap, a decentralized exchange (DEX) built on the Ethereum blockchain. It is an ERC-20 token, which means it follows the technical standards of Ethereum, making it easily exchangeable with other ERC-20 tokens.
Uniswap was launched in 2018 and quickly gained a following for its simple and user-friendly interface, low fees, and efficient trading mechanism. It allows users to swap Ethereum-based tokens without the need for intermediaries, making it a truly decentralized platform. With the launch of UNI in September 2020, Uniswap became even more attractive to investors, leading to a surge in its value and popularity.
Why is UNI worth investing in?
1. High Demand and Scarcity
One of the primary factors fueling UNI’s value is its limited supply. Unlike traditional currencies that can be printed endlessly, UNI has a fixed supply of 1 billion tokens. This scarcity, coupled with its increasing demand, has driven up its value in a short period.
2. Solid Performance
Since its launch, UNI has shown strong performance, continually increasing in value. As of September 2021, it has surpassed $30 billion in market capitalization, making it one of the top 10 cryptocurrencies by market cap. This impressive growth has caught the attention of many investors, who see it as a lucrative opportunity.
3. DeFi Wave
The rise of decentralized finance (DeFi) has been a driving force behind UNI’s popularity. DeFi platforms allow users to lend, borrow, and trade cryptocurrencies without intermediaries, making it an attractive alternative to traditional finance. As a key player in the DeFi space, Uniswap has seen a surge in its user base, leading to increased demand for UNI tokens.
4. Governance Rights
One unique feature of UNI is its governance rights. Holders of UNI tokens have the right to vote on proposals and changes to the Uniswap platform. This gives them a say in the platform’s development and the direction it takes. This added value has attracted many investors, who not only see UNI as an investment opportunity but also as a way to have a say in the future of Uniswap.
5. User-Friendly Platform
As mentioned earlier, Uniswap’s user-friendly platform has played a significant role in its success. With no sign-up or KYC requirements, users can easily and quickly start trading on the platform. The low fees and fast transaction times have also made it a popular choice among traders, adding to the demand for UNI tokens.
6. Future Potential
Despite its already impressive growth, UNI still has a lot of potential for further value appreciation. With the increasing adoption of DeFi and the development of new features on the Uniswap platform, UNI’s demand is expected to grow, driving up its value even further.
In conclusion, UNI has emerged as a top investment choice for many due to its limited supply, solid performance, role in the DeFi wave, governance rights, user-friendly platform, and future potential. However, as with any investment, it is essential to conduct thorough research and understand the risks involved before investing in UNI or any other cryptocurrency.
Tips for Investing in UNI
1. Do your research: As with any investment, it is crucial to research and understand the market and token before investing. This will help you make informed decisions and minimize risks.
2. Diversify your portfolio: It is advisable to not put all your eggs in one basket and diversify your investments. This will help mitigate any potential losses and spread out the risk.
3. Stay updated: Keep yourself updated with the latest news and developments in the crypto world, as they can have a significant impact on UNI and other cryptocurrencies’ value.
In conclusion, UNI has become a highly sought-after token for investors, thanks to its strong performance, scarcity, and role in the DeFi world. With its potential for further growth and its unique features, it is no wonder that investors can’t get enough of UNI. However, as with any investment, it is essential to do your research and understand the risks involved before investing.
