Uniswap: Market Swing Yields 12% Gains – Can UNI Sustain The Momentum?

With the broader market swing suggesting that most cryptocurrencies are in a bull run, Uniswap has continued its upward trajectory, capturing some of the momentum of the broader market. According to CoinGecko, the token is up nearly 12% since last week despite the market dipping slightly yesterday, August 21st. Related Reading: Celestia: Market Dip Leaves TIA Investors 16% In The Red Uniswap’s position within the crypto community is largely untouched, especially after its recent on-chain development that shows exceptional growth as a market. However, there are some aspects where the platform is seeing some weakness, putting UNI’s position into question in the long term. Uniswap Sees Exponential Increase In Uniswap v2 Trading Pairs In a recent X post, Uniswap shared a Dune query made by Austin Adams, a research fellow on the platform. It revealed that ever since Uniswap v2 was launched on the platform’s major partner blockchains, trading pairs on the latter have skyrocketed by a significant degree. Weekly number of pools being created on Uniswap v2 Optimism: 342 Arbitrum: 1,866 Polygon: 2,989 Ethereum: 118,820 …and Base: 512,545

Aug 22, 2024 - 20:00

Uniswap: Market Swing Yields 12% Gains – Can UNI Sustain The Momentum?

With the broader market swing suggesting that most cryptocurrencies are in a bull run, Uniswap has continued its upward trajectory, capturing some of the momentum of the broader market. According to CoinGecko, the token is up nearly 12% since last week despite the market dipping slightly yesterday, August 21st.

Uniswap’s position within the crypto community is largely untouched, especially after its recent on-chain development that shows exceptional growth as a market. However, there are some aspects where the platform is seeing some weakness, putting UNI’s position into question in the long term.

Uniswap Sees Exponential Increase In Uniswap v2 Trading Pairs

In a recent X post, Uniswap shared a Dune query made by Austin Adams, a research fellow on the platform. It revealed that ever since Uniswap v2 was launched on the platform’s major partner blockchains, trading pairs on the latter have skyrocketed by a significant degree.