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Sunday, April 11, 2021

Uniswap Spikes 50%; Only DeFi Token Among Top 10 Crypto

The governance token of Uniswap has successfully managed to become the only token of decentralized finance that has been able to enter the top 10 leading cryptocurrency assets based on market capitalization.

UNI is DeFi’s native token and Uniswap has recently experienced a spike of almost 50% within one week’s time. As a result, UNI is now ranked 8th in the list of the largest assets of crypto with a market cap of a whopping $17.7 billion. In the meantime, there is growing speculation regarding the V3 overhaul exchange.

DeFi UniSwap Token 8th Largest Cryptocurrency

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According to the rankings of Messari, UNI is as large as Ethereum in comparison to their market cap and is just after Tether while exceeds the market cap of Chainlink by nearly %.

UNI was able to break into the list of 10 leading crypto assets on the 5th of March. It became the 1st ever DeFi DApp that managed to achieve this distinction. Within a span of 24 hours, the market cap of UNI surged to an enormous $14.7 billion from a mere $8.8 billion as reported by CoinMarketCap.

The price of Uniswap’s token is presently consolidating close to the all-time high of 4th March that was over $34 and the token was previously trading at $33.9.

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The initial distribution of UNI witnessed a decline for liquidity providers proportionally along with the addition of 400 tokens that were sent to all the wallets which engaged with DEX in 2020 September. At this present moment, 400 UNI is priced $13.560.

The questions regarding Uniswap V3 on Twitter were asked to be deleted by Andre Cronje, developer of Yearn Finance. This led to speculations over a big announcement coming from the company soon.

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