Analyzing the Huge Demand Behind the UNI Token
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The Ethereum-based Uniswap DeFi project that offers the UNI token to the investors is currently trading at $14.95.
The price has more than doubled in just 1 week crossing $15.30 due to a huge increase in its trading volume. It has made splendid progress after launching in the industry in September 2020. It currently has a market cap of $4.3 billion and is the fourth largest spot exchange in the world.
Some Main Reasons Behind Uniswap’s Bullish Run in the Market Are
A rapid rise in the total value locked with more than $3.3 billion of funds of users deposited on the platform. The liquidity pools in the Decentralized exchange are well-maintained and highly competitive at the moment.
A whopping 24-hour trading volume of $1.8 billion with an increase of more than $400 million in the first month of 2021. It has remained the numero uno choice for traders surpassings its main competitors, Kyber Network and IDEX.
The proposed distribution of the $500 million for facilitating the continuous growth of the DeFi protocol.
The introduction of the latest version, Uniswap v3.0 offering more governance rights for users and reducing the gas fees on the network.
The soon-to-be launched Uniswap Grants Program with February 28 being the deadline for Wave 1.
This is the perfect time to invest in Uniswap and make huge profits. The Defi platform is breaking new records with every passing day.
At Blockchain App Factory, a decentralized exchange like Uniswap is created by experienced blockchain developers. It offers flash swapping, low gas fees, access to new tokens in the market, and users retain full control over their funds.