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Uniswap On Arbitrum Nears $150 Billion In Swap Volume

Uniswap, one of the world’s largest decentralized exchanges (DEX) by total value locked (TVL), is approaching a major milestone on Arbitrum, the largest layer-2 by TVL on Ethereum.

According to data from Dune Analytics shared by Uniswap Labs, Uniswap on Arbitrum is on the cusp of surpassing a staggering $150 billion in total swap volume.

Riding The DeFi Boom

As of April 25, Uniswap had facilitated over $146 billion in cumulative swap volume on Arbitrum alone. The number has gradually increased over the past three years since June 2021, when it was deployed on Arbitrum, looking at on-chain data. 

Uniswap swap volume on Arbitrum | Source: Dune Analytics

By August 2021, Uniswap was processing less than $5,000 in swap volume. After that, they steadily picked up momentum throughout the crypto bear run of 2022. Notably, a sharp uptick from October 2023 coincided with the start of the crypto boom that eventually propelled Ethereum to over $4,000 in Q1 2024.

The rising swap volume on Arbitrum reflects the increasing preference for Decentralized Finance (DeFi) solutions. As Uniswap on Arbitrum nears $150 billion, more users are increasingly turning to the popular DEX to trade, all without giving up control of their assets.

The surging popularity of Uniswap on Arbitrum can be partly attributed to significantly lower transaction fees compared to the Ethereum mainnet.

Through Arbitrum, the optimistic roll-up solution, swappers enjoy low transaction fees. They can also trade from a scalable environment secured by the Ethereum mainnet. 

Ethereum developers recently implemented Dencun, introducing a new transaction format called “blobs.” Because of this, layer-2 solutions can store large chunks of data off-chain, reducing the mainnet bloat. Subsequently, fees have been lowered, drastically enhancing the user experience for Arbitrum and other layer-2 users like Base and Optimism.

Uniswap V4 And United States Wells Notice

Following Dencun’s activation, Uniswap Labs plans to deploy v4. This iteration introduces features like Hooks that developers say will make the DEX even more efficient and flexible. The launch is set for this year.

Uniswap price trending sideways on the daily chart | Source: UNIUSDT on Binance, TradingView

Though Uniswap V4 is huge for the DEX and DeFi as a whole, the United States Securities and Exchange Commission (SEC) ‘s decision to issue a Wells notice is a setback.

The regulator intends to sue. However, the founder, Hayden Adams, responded in a post on X that they are ready to fight.

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Uniswap Resurgence Incoming? Analyst Predicts 30% Surge For UNI Price

Uniswap’s native token, UNI, has been struggling in terms of its price action over the past few weeks. Although the general state of the crypto market may be blamed for this gloomy price performance, other factors, such as the Wells Notice from the US Securities and Exchange Commission (SEC) to the Uniswap protocol, have also played a role.

However, the UNI price appears to be recovering well, as the token has jumped by more than 2% in the past day. A popular crypto pundit on X has predicted that a bullish rally might only just be beginning for the DeFi coin, but the question is – how far can Uniswap’s price go?

Analyst Sets $10 Target For Uniswap Price

In a recent post on the X platform, prominent crypto analyst Ali Martinez put forward an exciting bullish prediction for the price of UNI. According to the expert, the cryptocurrency might be getting ready for a run to the upside in the coming days.

The rationale behind this bullish prognosis for the Uniswap token is based on the TD (Tom DeMark) Sequential Indicator. The Tom Demark Sequential is an indicator in technical analysis used to identify the probable time and points of trend exhaustion and price reversal.

Uniswap

The TD Sequential indicator consists of two stages, namely the “setup” and the “countdown” phases. As shown in the chart above, UNI’s price just completed the setup phase, which comprises nine consecutive candles that closed lower than the candle four periods ago.

The completion of this phase usually signals a potential trend reversal for the token’s price. The direction of the reversal depends on the type of candles that formed the “setup” (I.e., red candles would suggest a bottom for the asset, while green candles would imply a top).

Martinez noted in his post that the TD Sequential has flashed a buy alarm on the UNI daily chart, and the token might be “gearing up for a 1 – 4-day rally. According to the analyst, the DeFi coin could jump as high as $10, representing an over 31% surge from the current price point.

UNI Price Overview

As of this writing, the price of UNI stands at around $7.46, reflecting a 2% jump in the past 24 hours. However, this latest price increase is not enough to bring the coin to profit on the weekly timeframe.

According to CoinGecko’s data, Uniswap’s price is down by more than 4% in the past seven days. The cryptocurrency would look to regain the $10 level, having lost it due to the news of the SEC’s looming action. 

Uniswap

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Uniswap 71% Single-Day Rally Raises Eyebrows – Can DeFi Maintain Momentum?

The cryptocurrency market witnessed a significant shift in momentum on February 23rd, as Uniswap native token, UNI, skyrocketed by an impressive 71%. This surge marks the token’s highest price point since March 2022, sending shockwaves through the crypto landscape and reigniting interest in the decentralized finance (DeFi) sector.

Uniswap Proposes Fee-Sharing Feast For Stakers

The primary catalyst behind this astronomical rise appears to be a pivotal proposal unveiled by the Uniswap Foundation. This proposition advocates for the implementation of a novel fee-sharing mechanism, fundamentally altering the token’s utility and incentivizing long-term participation within the Uniswap ecosystem.

Under the proposed system, UNI holders who stake their tokens will be rewarded with a portion of the fees generated by the Uniswap protocol. This not only grants them a direct financial incentive but also empowers them to choose delegates who vote on governance proposals, shaping the future direction of Uniswap.

This revolutionary approach resonates with a broader trend of resurgent interest in DeFi. According to on-chain data provider Santiment, assets associated with decentralized lending, borrowing, and cryptocurrency exchange, like $COMP, $SUSHI, and $AAVE, have all experienced notable value increases, mirroring UNI’s upward trajectory.

Trade Volumes On A Roll

Further bolstering this trend, trading volumes across these protocols have also seen explosive growth. For instance, the COMP price jumped alongside a staggering 400% increase in trading volume, reaching over $175 million.

Similarly, SushiSwap (SUSHI) witnessed a 27% price surge coupled with a 153% increase in trading volume. This shift in investor focus is further underscored by a corresponding decline in the value of AI-related coins, indicating a potential capital rotation within the market.

Uniswap v4 Upgrade On The Horizon: Efficiency And Customization Beckon

Adding fuel to the fire is the impending arrival of the highly anticipated Uniswap v4 upgrade, slated for release in Q3 2024. This transformative update promises to enhance the protocol’s efficiency and customizability, catering to the evolving needs of the DeFi space.

While the direct impact of v4 on the current price surge remains debatable, its potential to revolutionize the Uniswap experience undoubtedly contributes to the overall bullish sentiment surrounding UNI.

Beyond Uniswap: DeFi Dominance On The Rise?

The Uniswap fee-sharing proposal and upcoming v4 upgrade have not only revitalized the UNI token but also cast a spotlight on the broader DeFi landscape. Analysts predict that other DeFi protocols like Blur and Lido Finance could witness similar surges in the wake of Uniswap’s bold move.

This potential domino effect underscores the growing importance of DeFi within the cryptocurrency ecosystem, attracting investors seeking innovative financial solutions beyond traditional centralized systems.

Featured image from Adobe Stock, chart from TradingView

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Uniswap Foundation Unveils Major Upgrade Plan, UNI Price Skyrockets 52%

Uniswap (UNI), one of the industry’s largest decentralized cryptocurrency exchanges (DEXs), has set the stage for a major shift in its ecosystem with a proposed upgrade that could have significant implications for UNI token holders. 

The upgrade aims to bolster governance participation, enhance resilience, and reward token holders for active engagement within the Uniswap ecosystem.

Uniswap Takes Big Leap In Governance

Uniswap Foundation (UF) Lead Developer Erin Koen, while expressing his enthusiasm, has suggested that it has been the “biggest week in Uniswap Protocol Governance” and revealed a major upgrade proposal for the system.

At the heart of the proposed upgrade lies a fee mechanism designed to reward UNI token holders who stake and delegate their tokens. As announced, by actively participating in the governance process, token holders can earn additional rewards in the form of protocol fees. 

In addition to the enhanced rewards, the proposed upgrade seeks to fortify Uniswap Governance, making it “more resilient and decentralized.” 

According to Koen, by increasing the number of actively involved token holders, the governance structure becomes more robust, ensuring that decisions align with the collective interests of the UNI community. 

The proposed upgrade maintains governance control over core parameters such as fee-charged pools and fee magnitude. Token holders will collectively decide on these critical aspects, allowing for flexibility and adaptability in response to market dynamics. 

Beyond the immediate benefits, the proposed upgrade holds the potential for long-term value appreciation of the UNI token. By incentivizing participation and aligning token holders’ interests with the ecosystem’s success, Uniswap aims to foster organic growth and adoption. 

Assuming a successful on-chain vote, the community will have the option to activate fees. Gauntlet, a trusted entity, is reportedly preparing a proposed roll-out process that will be shared on the forum. 

Only after completing this separate governance process will fees be collected and distributed according to the adopted contracts. Koen further noted:

We’re excited to invigorate governance – incentivizing not only delegation but thoughtful and active delegation – by tying delegation to protocol fees. Specifically, we believe UNI token holders will be incentivized to choose delegates whose votes and engagement with the protocol will lead to the Protocol’s growth and success. If this proposal succeeds we believe we will see an influx of new delegations.

UNI Records 23-Month High

As these developments unfold, considerable excitement has emerged around the Uniswap protocol. Notably, a cryptocurrency investor named “Virtual Bacon” expressed enthusiasm, stating, “Uniswap finally proposes to share revenue with UNI token stakers. Chart exploding on this ‘proposal’ which hasn’t passed yet.” 

Within 24 hours, the UNI token witnessed a surge of over 52%, signaling the market’s anticipation of the potential benefits this upgrade could offer token holders.

Uniswap

Currently, the UNI token is trading at $11.29. However, with the unveiling of the upgrade proposal, the token quickly surged to the $12.50 level, reaching its highest point in 23 months. 

The gains over longer time frames have also experienced a dramatic surge. Over the past fourteen days, the UNI token has seen an impressive increase of 73%. Similarly, the token’s value has soared by 94% in the last thirty days. 

Overall, should the proposed upgrade be approved and implemented, Uniswap will reinforce its position as a leading DEX and establish a framework that empowers token holders and fosters the continued growth and success of the Uniswap protocol.

Featured image from Shutterstock, chart from TradingView.com

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Uniswap Expands Reach: Deploys v2 Protocol On Six New Chains Including Arbitrum And Polygon

Uniswap (UNI), one of the largest decentralized cryptocurrency exchanges (DEX) by trading volume, has made an important announcement regarding deploying its v2 protocol on six additional chains. 

The chains on which the v2 protocol has been deployed include Arbitrum (ARB), Polygon (MATIC), Optimism (OP), Base, Binance Smart Chain (BSC), and Avalanche (AVAX).

Uniswap Widens v2 Protocol Deployment

According to a recent post on X (formerly Twitter) by Uniswap Labs, the software product developer working on the protocol, the decision to deploy the v2 protocol on more chains is primarily driven by the desire to simplify the experience for Liquidity Providers (LPs).

While the protocol’s v3 offers advanced features tailored for active liquidity providers, the development team believes the v2 protocol offers a more “straightforward approach.” 

By default, v2 pools cover the entire price range, reducing the need for upfront decisions and minimizing the active involvement of liquidity providers. This simplification streamlines the process and makes it more accessible to a broader range of users, according to the announcement. 

Another benefit of using the v2 protocol on multiple chains, according to Uniswap Labs, is its cost efficiency. Creating pools on v2 is more gas efficient than other versions, resulting in lower gas costs to add liquidity. 

This cost reduction can be translated into savings for users, making swaps on the platform “incredibly affordable.” In addition, the use of v2 on Layer 2 scaling solutions significantly reduces the risk of frontrunning and manipulative practices known as Miner Extractable Value (MEV). 

Ultimately, by offering an official v2 deployment directly accessible through the Uniswap interface, the developers suggest that users can be assured of a safe and secure environment for their swaps.

UNI Price Dip, Platform Metrics Remain Solid

Despite the recent developments that could attract investors’ attention and drive broader adoption of the Uniswap protocol, the exchange’s native token, UNI, is currently undergoing a significant correction in line with the overall market trend.

Currently, UNI is trading at $7.22, representing a 4.4% price drop in the past 24 hours and a 1.1% decline in the last trading hour. However, it’s worth noting that UNI has been one of the better-performing tokens in the market, with price increases of 14.7% and 16.8% in the past fourteen and thirty days, respectively.

Uniswap

Furthermore, according to data from Token Terminal, the Uniswap ecosystem continues to exhibit substantial growth in key metrics. 

The fully diluted market capitalization of Uniswap stands at $7.56 billion, reflecting the total value of all tokens if they were fully in circulation. This figure has experienced a notable increase of 18.4% over the past month. 

In contrast, the circulating market capitalization, which considers the currently circulating tokens, is valued at $6.94 billion, indicating a 19.9% increase over the same period.

Uniswap

Despite the overall surge in market capitalization, the trading volume of the UNI token has experienced a significant decline of 69.3% over the past 30 days, amounting to $2.79 billion. 

The total value locked (TVL), a measure of the value of assets locked within Uniswap’s smart contracts, has also experienced a 14.4% increase, reaching $4.76 billion. 

Featured image from Shutterstock, chart from TradingView.com 

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Uniswap V4 Catalyst: UNI Token Primed For Growth As New Chain Launch Loom

Uniswap, one of the world’s largest decentralized exchanges (DEX), is poised for significant growth with the upcoming launch of its V4 upgrade. This anticipated update will introduce custom Automated Market Maker (AMM) functionality directly on top of Uniswap, eliminating the need for separate AMM designs.

In addition, Uniswap’s governance token, UNI, has seen notable growth, with a 6.8% increase in the last 24 hours and an 8% increase in the previous 30 days, bringing the UNI token to $7.318.

However, while these developments favor the exchange and investors, decentralized finance (DeFi) researcher DeFi Ignas has raised concerns regarding the launch and its potential impact on critical features.

The Ultimate DeFi Liquidity Solution With Uniswap V4?

According to DeFi Ignas’ latest analysis on X (formerly Twitter), Uniswap V4 represents a significant transformation from a protocol to a platform. Like the Apple Store’s impact on the iPhone, Uniswap V4 will consolidate all pools into a single framework, reducing creation costs by 99% and enabling more cost-effective multi-pool swaps.

The introduction of the “Hooks” system is particularly noteworthy. These hooks act as plugins or extensions, allowing for customized code execution during crucial events within a pool. 

The 13 available hooks enable various functionalities, including on-chain limit orders, time-weighted average market making, liquidity depositing into lending protocols, auto compound liquidity provider (LP) fees, and know-your-customer (KYC) integration.

Introducing hooks leads DeFi Ignas to believe that the launch of Uniswap V4 will allow developers to experiment and launch their protocols while leveraging Uniswap’s liquidity.

According to the researcher, this has the potential to attract even more liquidity from other decentralized exchanges and establish Uniswap as the dominant liquidity layer for all DeFi activities, from trading to lending.

Yet, while unified liquidity may benefit users by increasing market efficiency, it raises concerns about potential market concentration and stifling of competition.

UNI Token Gains Momentum

Uniswap’s V4 liquidity sourcing could concentrate liquidity within the platform, potentially making it the go-to liquidity layer for DeFi. According to DeFi Ignas, this dominance, coupled with Uniswap’s operating license that prohibits forking until 2027, raises questions about market competition and the potential impact on decentralized finance. 

In addition, reports suggest that Uniswap Labs has sent takedown notices to gateways of the InterPlanetary File System (IPFS) – a decentralized and distributed protocol designed to facilitate the storage and sharing of files on a peer-to-peer network – adding another layer of concern about decentralized access and censorship resistance.

Regarding the potential upside of Uniswap V4 acting as a catalyst for the exchange’s token, the research went on to suggest that while UNI’s value “accrual” for retail investors has been relatively modest, the introduction of Uniswap V4 and its hooks opens up new possibilities.

In this sense, DeFi Ignas believes the UNI token could function as a platform/ecosystem token, benefiting from third-party decentralized applications (dApps) developed using Uniswap’s hooks, expanding the token’s use cases and potentially attracting more investors.

Additionally, there is speculation that Uniswap may solidify its dominance and liquidity by launching its chain, potentially as a layer-two (L2) solution, which could further boost the valuation of the UNI token.

Uniswap V4

As the upgrade deadline for Uniswap approaches, the impact of the exchange’s upgrade on the UNI token remains uncertain. However, there has been a noticeable growth in the token’s value over the past few weeks. 

After reaching a 17-month high of $8.260 in January, the token experienced a correction but has since broken out of that pattern. As the upgrade deadline draws near, it is yet to be determined whether the token can consolidate its gains and regain previous levels.

Featured image from Shutterstock, chart from TradingView.com

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Uniswap Soaring User Engagement: How It’s Transforming UNI Price?

Uniswap (UNI) has emerged as a beacon of activity and growth amidst a month of turbulent trading for the broader cryptocurrency market. Throughout September, the crypto market exhibited a remarkable level of volatility while remaining largely range-bound, leaving market participants in a state of neutrality. However, Uniswap has defied the sideways trend, demonstrating notable progress in various metrics.

According to data from Token Terminal, Uniswap experienced a significant surge in daily active users on September 30th. This uptick in user engagement reflects growing interest in decentralized exchanges (DEXes) and the Uniswap Protocol specifically. 

Notably, Uniswap also celebrated a remarkable milestone during this period, completing over 300 million swaps. This achievement underscores the platform’s pivotal role in facilitating decentralized trading and liquidity provision within the cryptocurrency ecosystem.

Uniswap: Expanding Network Growth

Uniswap’s growth extended beyond its daily user metrics. The network saw an expansion in the number of new addresses, indicating a rising interest in the UNI token and its associated ecosystem. This surge in new addresses is a positive sign for Uniswap’s long-term sustainability and relevance within the decentralized finance (DeFi) landscape.

While the broader crypto market struggled to find direction in September, there was some positive momentum to note. Over the weekend, the total market capitalization surged to a six-week high, reaching $1.15 trillion. This development signals renewed investor interest and optimism in the cryptocurrency space, potentially breaking the cycle of indecision that marked most of September.

UNI’s current price of $4.62, as reported by CoinGecko, reflects a 3.8% increase in the last 24 hours, with a seven-day surge of 9.2%. These positive price movements are indicative of the renewed investor interest in the Uniswap token.

UNI: Looking Ahead

Although the week’s economic calendar doesn’t directly impact the crypto market, the momentum gained over the weekend may persist if technical resistance levels are overcome. Notably, approximately $40 billion flowed back into crypto markets during the weekend, resulting in a 3% gain for the day. This influx of capital showcases the resilience of cryptocurrencies and their ability to rebound swiftly from periods of consolidation.

While the broader cryptocurrency market experienced a month of sideways trading and uncertainty in September, Uniswap (UNI) emerged as a standout performer. The platform’s increased daily users, milestone in swap volume, and expanding network growth demonstrate its continued relevance and importance in the evolving world of decentralized finance.

As the crypto market remains susceptible to both internal and external factors, the coming weeks will be closely watched to see if the positive momentum can be sustained.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from iStock

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Uniswap (UNI) Stays Afloat With 12% Gain As Rest Of Top 50 Coins Sink

Uniswap (UNI) has experienced a remarkable, bullish surge in its price amidst mounting sell-pressure on cryptocurrency exchanges. Bullish crypto traders have actively placed orders to buy 1.3 million UNI tokens, driving the price to $6.43, one of the highest levels in the past four months. 

CoinGecko data indicates that the token experienced a minor 0.07% drop in the past 24 hours but a notable seven-day rally of 12.4%.

Recent data compiled by Santiment also reveals a noteworthy and sudden surge in Uniswap’s Age Consumed, indicating significant movement of tokens in the last few days.

UNI Age Consumed: Understanding On-Chain Data

With the UNI token price soaring to a remarkable four-month peak, investors are now contemplating the opportune moment to secure profits. The rapid surge in value has led some market participants to consider early profit-taking strategies. 

Investors and analysts closely examine on-chain data to understand better the market sentiment and the possibility of imminent sell-offs, focusing on a critical metric known as “Age Consumed.” 

Age Consumed represents the total number of days since each token unit was last moved. It provides valuable insights into the activity of long-term holders and short-term traders.

A significant increase in Age Consumed indicates that tokens previously held for an extended period are now being moved, potentially suggesting profit-taking or a shift in investor sentiment. 

In the case of UNI, the Age Consumed skyrocketed from 11.66 million on July 22 to 292.71 million by the end of July 30. Such a surge in Age Consumed suggests a notable movement of previously dormant UNI tokens, raising questions about the intentions of long-term holders and the potential impact on the token’s price.

Uniswap Gains Preference After Curve Finance Exploit

The bullish sentiment around Uniswap has been further fueled by a significant exploit that impacted another cryptocurrency token, the Curve Stablecoin Pools (CRV) token. The exploit led to a steep 20% plunge in the price of CRV, causing traders to pivot towards Uniswap’s UNI token.

Meanwhile, Uniswap’s UNI perpetual futures are now trading at a 20% premium, indicating that traders strongly believe in Uniswap’s potential to gain more market share in the aftermath of the CRV exploit. Moreover, the funding rates for UNI perpetual futures have surged to 19%, showcasing the optimistic sentiment among traders regarding the future performance of the UNI token.

The aftermath of the Curve Finance exploit has had varying impacts on different DeFi platforms. While Curve Finance’s total value locked (TVL) dropped significantly from $3.2 billion to $1.8 billion, Uniswap’s TVL remained steady at around $3.8 billion. This stability in TVL demonstrates Uniswap’s resilience and strong fundamentals even during market turbulence.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Bitcoin-Bude

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Uniswap Tops Other Big Crypto In Social Dominance Despite Price Drop

Uniswap (UNI) has surged in the social dominance department, peaking on December 25 at 20.46%. Uniswap is seen to win the popular vote as it topples other cryptocurrencies in the social arena.

Here’s a quick look at how it is performing:

  • UNI price drops 1.26%
  • Uniswap critical support spotted at $5.09
  • UNI dominates the crypto space in terms of social dominance

On the other hand, UNI still looks bearish, which could linger on for quite some time. According to data by CoinMarketCap, UNI price was trading at $5.07, down 5.2% in the last seven days.

The price could even slide further down if the coin fails to hold on to its current support level.

The MACD histogram has fallen below zero, which indicates an increase in the amount of pressure being exerted by sellers.

UNI Technical Indicators: Seller Aggressiveness

Uniswap’s technical indicators show that sellers are more aggressive than buyers in the coming days.

Uniswap, with the daily trading session, hinted at the formation of a descending triangle pattern. It also demonstrates a long-term bearish trend considering that the price dangles within the 100 and 200 SMA.

The upper Bollinger Band sits at $5.25, while the lower Bollinger Band is currently at $5.32, which suggests a bearish trend for Uniswap. This market pattern is seen to continue for an extended period.

On the brighter side, Uniswap’s price may increase once it successfully breaches the $5.4 level. However, if the coin barrels past the key support level, it could aggravate the losses.

Now, in order to reverse the negative sentiment, the bulls should maintain the support level and push the prices way up.

UNI Search Volume Among Traders Climb

In terms of social dominance and volume, UNI sits at 6,902 crests, which means that search volume has increased among the traders.

Traders now see the spike in social dominance as an opportunity to rake in profit from UNI. In fact, Binance funding has increased by 0.009%. However, despite the spike in investor interest, Uniswap still needs to increase in value.

In November, Uniswap rolled out an NFT aggregator as the market was bullish then. However, the tide has turned, and UNI NFTs did not seem to tickle the fancy of many investors as NFT trades have plummeted to only $7,562.

While UNI is dominating social volume and dominance, this might not go on for long, as the social volume and price seem to plunge further in the coming days.

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Uniswap Shows Bullish Pattern As Price Fails To Break $6.8; Are Bears In Control?

  • UNI’s price shows the first sign of bounce after forming a bullish pattern as the price gets rejected into a range channel. 
  • UNI bounced off its downtrend movement as the price broke its resistance of $6.8 but failed to hold this region. 
  • The price of UNI continues in its range movement as the price gets rejected into a range and trades below the 50 Exponential Moving Average (EMA).

Uniswap (UNI), a one-time favorite of many in the crypto industry, has failed to live up to the hype it once had as its price rallied from a low of $3 to $30. The crypto market, including the big players like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), has had a quiet month as the prices of most altcoins have found themselves fighting for survival as they seek to defend their key support areas. The price of UNI, despite having a good start in recent weeks, formed a bullish pattern but failed to complement this structure with some rally. (Data from Binance)

Uniswap (UNI) Price Analysis On The Weekly Chart.

Uniswap has struggled to regain its bullish momentum in recent times; despite the uncertainty that has befallen the crypto space, the price of UNI hasn’t enjoyed a measure of relief after showing so much strength on the weekly chart rallying from a low of $3.5 to a high of $9.5 before facing rejection from that region. 

After the price of UNI rallied to a high of $9.5, the price has faced rejection to break higher to a region of $10, and the price has continued to struggle to stay afloat, considering how tough the crypto market has been lately.

The price of UNI dropped to a low of $5 after rejection from the high of $9.5; the price of UNI bounced from that region to a high of $6.5, where the price was rejected into a range channel. 

Weekly resistance for the price of UNI – $10.

Weekly Support for the price of UNI – $5.5.

Price Analysis Of UNI On The Daily (1D) Chart

Daily UNI Price Chart | Source: UNIUSDT On Tradingview.com

In the daily timeframe, the price of UNI continues to trade below the key resistance formed at 50 EMA after forming a cup and handle pattern but failed to complete the pattern as the price was rejected into the range. The price of $7 acts as the resistance holding the price of UNI from breaking the range and trending higher.

The price of UNI needs to break and hold above $7 for the price to trend higher to a region of $9.5-$10, which is a key supply zone for most traders. If the UNI price fails to break above this region, we could see the price retest its Support at $5.5.

Daily resistance for the UNI price – $9.5-$10.

Daily Support for the UNI price – $5.5.

Featured Image From zipmex, Charts From Tradingview

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Uniswap Rally Could Be In Jeopardy, Despite UNI’s Solid Social Engagement

Uniswap (UNI) started with a bearish stride in 2022 along with Ripple and most other cryptocurrencies but it has been gaining some impressive price action as seen in the past few weeks.

  • UNI’s social engagement up by 53.62%
  • Supply of unique wallet addresses surged since September 12
  • UNI price looking bullish; up by 4.15%

According to CoinMarketCap, UNI’s price has been looking bullish and spiked by 4.15% or trading at $6.77 as of this writing.

UNI Shows Impressive Social Dominance

More so, UNI has been outperforming other cryptocurrencies when it comes to its social metrics. UNI’s social engagements have spiked by 53.62% while social mention has grown by 62.15%.

In the past couple of weeks, Uniswap is seen to gain social media dominance plus also improved in terms of development activities.

In addition, Uniswap’s weighted sentiment is positive as shown from September 28 to September 30. On the other hand, the weighted sentiment dropped immensely as witnessed on October 1.

As a consolation, the development activity of UNI has grown rapidly since last week or September 29 and has been fairly consistent ever since.

The impressive uptick in terms of development activity is said to be triggered mainly by the network’s Swap widget update.

Chart: Santiment

These continuous advancements and upgrades are said to be hinting at a bull run and attract more investors.

On the other hand, despite the recent UNI updates, it has not helped its TVL as it has been stuck on the same level since September. The thing is, even if the whales were dubious of Uniswap’s DeFi protocols, users are gaining more interest in UNI.

Meanwhile, the top wallet addresses were also seen to surge in terms of supply since September 12, especially since whale interest is very important for the token’s progress.

Uniswap Velocity Down In Last 7 Days

On the downside, UNI’s velocity is seen to drop in the past couple of days implying a reduced number of wallet addresses.

UNI price has dipped in the past two weeks as precipitated by the market turmoil triggered by the inflation happening around the world but it is seen to currently recover a bit.

Meanwhile, it is said to get even worse as predicted by many crypto analysts after the coin has dropped by as much as 72.56% over the past year.

UNI’s moving averages witnessed a bearish movement specifically at its 100-day EMA and SMA saw at $5.62 and $5.66; respectively.

Its RSI is currently at 43.66 which signifies a spike in sell action and shows that investors may potentially lose more in the coming days.

With that being said, the sentiment of analysts on Uniswap is generally negative, especially with its lack of significant utility value.

UNI total market cap at $5.17 billion on the daily chart | Source: TradingView.com

Featured image from Cryptopolitan, Chart: TradingView.com

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Uniswap Token (UNI) Forms Rounded Bottom, Can Price Hit $7.5?

  • UNI price creates more bullish sentiment as price forms rounded bottom below key resistance as price aims to break above.
  • UNI closes the week with two bullish candlesticks. 
  • The price of UNI breaks and holds above 8 and 20 EMA.

Uniswap token (UNI) has had a rough start to the year and has failed to hold key support as the price of Uniswap token (UNI) had a spiral from a high of $45 to the current price of $6.5 as price aims to break out from its long downtrend movement. The price of UNI has struggled to keep up with Bitcoin’s (BTC) range movement as this has affected most altcoins, including the price of UNI. (Data from Binance)

Uniswap Token (UNI) Price Analysis On The Weekly Chart

The cryptocurrency market hasn’t had the best price movement in recent times, but that doesn’t mean that some crypto assets haven’t shown great strength in bouncing from their lows and breaking out of their downtrends to establish bullish momentum.

Despite showing less price movement in recent weeks, the price of UNI has continued to trade below the key resistance level of $6.6, preventing a rally to new highs.

UNI’s price fell from a high of $45 to a low of $3.5 as it bounced off that region, quickly rallying off to a high of $8, but the price was rejected as it continues to struggle to break out of its price range.

The price of UNI ended the week looking more bullish as bulls pushed the price to break the resistance at $6.7, setting up a more bullish price movement for the price of UNI ahead of the new week.

The price of UNI must break and hold above $6.7 in order to rally to a higher region with more bullish sentiments; if the price of UNI is rejected from this region, we may see the price retest a $5 region acting as good support zones.

Weekly resistance for the price of UNI – $6.7.

Weekly support for the price of UNI – $5.

Price Analysis Of UNI On The Daily (1D) Chart
Daily UNI Price Chart | Source: UNIUSDT On Tradingview.com

The price of BEL on the daily timeframe continues to look bullish as the price forms a rounded bottom as the price breaks out of the neckline resistance.

The price of UNI trades at $6.7 as the price attempts to break above the 50 and 200 Exponential Moving Average (EMA). The price at $6.3 corresponds to the price at 50 and 200 EMA for UNI on the daily timeframe.

The Relative Strength Index for UNI on the daily timeframe is above 45, suggesting less buy volume.

Daily resistance for the UNI price – $6.7.

Daily support for the UNI price – $5.

 

Featured Image From themarketperiodical, Charts From Tradingview

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Uniswap (UNI) Leads Gains Among Top Coins

Uniswap (UNI) has led growth and gains among other top coins in the last 7 days. The price has been moving northward in the past week, with other top coins following suit.

From the technicality outlook, the coin’s current support zone has been between 6.25 and 6.35, respectively. As of writing, CoinMarketCap has shown the token trading at $6.35, enjoying a 12.07% weekly gain in value. 

Related Reading: Bitcoin 30-Day Long-Term Holder SOPR Is Yet To Hit Bottom Values

The digital asset is one of the leading gainers as it has been able to break past its $6.00 support level. While it slipped below its mark during the week, it quickly bounced back, going up to $6.6 on Tuesday.

Uniswap Price Analysis

UNI was trading at $5.69 in the past week. The bulls have been constantly defeated at the resistant mark by other coins. Many believed that if Uniswap continued to witness fewer demands, it would lose most of Its gains. However, it surged in price in the last 24 hours and led to gains.

If UNI eventually falls below the $6.29 level, it will be reduced to $6.00. This indicates the amount of bearishness it would be for the UNI. However, if it continues leading gains, trading will rise, and the buying strength will keep increasing. Moreover, the overhead resistance, for now, is at $6.29.

Uniswap (UNI) Technical Analysis

UNI has been increasing and decreasing in the trading rate due to the unstable value. This occurred as a result of the coin being unable to exceed the $6.00 resistance mark in the past week. At the time of writing, the relative strength has been slightly below the half line. This signals the increase in selling strength over the buying strength.

It could also mean that sellers are driving the momentum of price in the market. The green signal bar indicates the buying signal for the coin. This could also imply that the UNI might make a comeback in price in the upcoming trading sessions with the increase.

UNI’s price is currently trading at above $6. | Source: UNIUSD price chart from TradingView.com
Where Is The Uniswap Token Heading?

As of the moment, the data chart has indicated that hourly trading is at a low rate. If this continues, the price might change in the next few days to come. The level at which the price may stop falling or rising may be between $6.60 to $6.10.

Unlike other tokens in the chain link, Uniswap seems to have its head high above. This period has been one filled with uncertainty and volatility for the token. It may seem like a rather odd development. This is due to the fact that it has been stuck on a strange decline in the past five weeks.

Related Reading: Why VeChain Is Attractive At $0.02, Is VET Aiming For A Big Move?

It is important to remember that the bull can easily increase the trading price to $7.00. However, the token may still be at the risk of falling below a price of $6.00. it’s best you stay on the lookout for the next pattern breakout.

Featured image from Pixabay and chart from TradingView.com