Uniswap: New Crypto Developments Lift UNI Price Up by 17%

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	296,371,526,695	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

296,371,526,695

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-14.51	-0.59%	2,461.28	2,461.05	2,461.19

Price Change

Price Change %

Current Price

Bid Price

Offer

-14.51

-0.59%

2,461.28

2,461.05

2,461.19

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,484.44	2,435.88	2,477.69	2,475.79	1,537.31 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,484.44

2,435.88

2,477.69

2,475.79

1,537.31 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:18:58	0.026582	2,461.15	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:18:58

0.026582

2,461.15

USD

Price x Volume	Volume	Base Symbol	Related Pairs
75,095,461.89	30,532.57	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

75,095,461.89

30,532.57

Uniswap: New Crypto Developments Lift UNI Price Up by 17% – Details

13/10/2024 7:00pm

NEWSBTC

Uniswap has surprisingly outpaced the broader market with the token experiencing an outstanding 17% uptick since last week, gaining bigger retail interest. This has been caused by a recent development that provided a new level of user experience on the platform. Related Reading: Helium (HNT) Falters 15% As Crypto Market Tries To Bounce Back This week, Uniswap announced Unichain, a new L2 with faster block times and cross-chain interoperability designed to be “the home for liquidity across chains.” Unichain: What’s The Gist? According to Uniswap’s most recent blog post, Unichain is designed to support Ethereum’s scaling which draws transaction fees to be as low as 95% compared to the Ethereum mainnet with the goal to drop it even further. Another feature that current and future users will love is the fast transaction times thanks to Unichain’s 1-second block times. As the platform matures, Unichain aims to release 250 millisecond block times in the future further decreasing transaction times while increasing the number of transactions the platform can handle. The faster transaction times are only possible because of the trusted execution environment (TEE), a feature designed with Flashbots, an R&D organization on Ethereum. Since Uniswap is already part of the Optimism Superchain, users of Unichain will enjoy built-in cross-chain interoperability, which only means that users can interact with other L2s that are part of the Superchain without any hitches. Right now, Uniswap has launched the Unichain Testnet Bridge Rewards program which will allow users to bridge to the Unichain testnet and experience the new L2. The platform has also set up a 20,000-participant Early Adopter Rewards program to encourage new users to join the infant platform. Once Unichain matures, Unichain will continue to grow to be a major competitor in the market. Continued Rejection On $8.186 Puts UNI In Awkward Position Despite the token experiencing a move upward, the $8.186 resistance level proves to be a tough nut to crack for investors and traders. As of writing, UNI is still trading between $7.518 and $8.186, placing the token in a very awkward position. UNI’s relative strength index (RSI) continues to signal that the token will fall below the $7.518 support level in the short to medium term. But it remains to be seen whether the current trading range will yield to the bears in the medium term. Related Reading: Whales Hoard $90 Million In Bitcoin: A Sign Of What’s To Come? At its current rate, UNI bulls will have to deal with a growing bearish sentiment that will wipe out the gains made within the previous week. In this case, investors and traders should be careful with entering the market right now as the token’s momentum will put UNI well below $7.518 short term. Featured image from Printler, chart from TradingView

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