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Decentralized exchange Uniswap‘s UNI token surged following the announcement of Unichain, the platform's Ethereum layer-2 network. Data from CryptoSlate shows that UNI rose over 12%, reaching $8.07—the highest it's been in three months.
Decentralized exchange Uniswap is expanding in a way no one imagined. As announced recently, the trading platform said it will launch Unichain, its Ethereum layer-2 scaling solution.
Unichain's launch could significantly enhance Ethereum's scalability and DeFi accessibility, potentially reshaping the blockchain landscape. The post Uniswap debuts Ethereum L2 Unichain, UNI token surges 13% appeared first on Crypto Briefing.
Uniswap launching Unichain, a Layer 2 blockchain on Ethereum, aimed at faster, cheaper transactions and improved liquidity.
The Uniswap price surged 17% on Thursday on the back of Uniswap Labs' recent announcement of its new Ethereum layer-2 network. This development is set to increase the decentralized exchange's native token UNI's utility.
Decentralized exchange Uniswap has entered the layer-2 solution landscape with its new initiative to “accelerate Ethereum's scaling roadmap.
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Uniswap will launch an Ethereum layer-2 network called Unichain in an effort to cut fees, boost liquidity, and more.
Uniswap Labs is building a custom Layer 2 called Unichain using the Optimism Superchain, which will feature sub-second block times.
The news is in line with the ongoing trend that's hit the Ethereum scaling world since the end of 2023: giant and familiar crypto exchanges launching their own layer-2 networks.
Bitcoin failed to hold above $62,000 as the crypto prices continued to battle sell-off pressure in a month that has historically been bullish. Several altcoins are however likely to mirror BTC's holding of support near $60k, including Tron (TRX), Worldcoin (WLD) and Decentraland (MANA).
The Uniswap (UNI) price has recorded a strong bullish recovery over the past few days amid increased price volatility in the crypto market. Moreover, with a potential breakout, this altcoin hints at a potential surge toward its target level of $15 this Q4! However, the resistance trendline around $7.
Uniswap (UNI) price has experienced a modest recovery amid recent market dynamics. Despite persistent volatility, the token shows potential for further gains.
In times when large-cap and popular tokens like Bitcoin, Ethereum, XRP, or Cardano are consolidating, EigenLayer is displaying a huge possibility of triggering a huge bull run.
Bitcoin (BTC) found support at around $62,000, helping it stabilize and prevent a further decline. The world's largest cryptocurrency has shed almost 2% over the past 24 hours after facing considerable volatility over the previous week, which saw highs of over $65,000 and a low of $59,800.
NEAR joined Uniswap as a top performer, gaining 5.0%.
Uniswap, one of the leading decentralized exchanges in the cryptocurrency space, is currently facing a critical juncture. With a staggering 1195% increase in exchange net flows, many are left wondering whether retail traders can step in to stabilize the price of UNI, its native token, which has been experiencing volatility.
The cryptocurrency sector is witnessing significant transformations in how users manage, trade, and secure their digital assets. With Uniswap's fee adjustments catalyzing substantial revenue and the burgeoning role of crypto NFTs in gaming, these developments are poised to redefine the future of digital finance.
In the last 24 hours, Solv Protocol, a leading Bitcoin staking platform, with a 24-hour protocol fee of $1.48m, has emerged as the sixth largest among the protocols. Interestingly, Solana, with $1.24m in fees, and Uniswap, with $1.15m in fees, have been pushed down to eighth and ninth positions, respectively.
UNI traders must be wary. And, there's good reason for it too!
On Friday, Uniswap's price saw a 1.7% rebound, reaching $6.67. This bullish shift comes after a broader market cooldown following the recent sell-off triggered by geopolitical tensions in the Middle East.
Uniswap (UNI) is currently navigating a turbulent phase as it hovers around the $7 mark. After experiencing an 8% drop in just 24 hours, the token's price movement reflects broader bearish trends affecting the entire cryptocurrency market.
The cryptocurrency markets continued to drop for the second day in a row, with major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), firmly entrenched in the red. BTC slumped to a low of $60,031 before recovering and is currently trading around the $61,300 mark.
Uniswap exchange inflows reached 893,000, nearly double the inflows recorded the previous day.
