DeFi project token goes against the trend
Traders use the positive dynamics of the UNI rate to make money
Investors are waiting for a new wave of token growth
International consortium of news organizations developing transparency standards.
A week after the release of the token of the decentralized exchange Uniswap – UNI – the cryptocurrency managed to gain a foothold in the top 40 most capitalized coins. At the same time, the asset does not cease to attract the attention of investors due to active growth.
Results of the first week of UNI
At the time of this writing, token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More is on the 36th place in the capitalization rating and is trading at $ 5.12. The maximum value of UNI was recorded on September 19 at $ 7.14 (according to CoinMarketCap). The performance of another aggregator, CoinGecko, is slightly different. The maximum UNI, according to the platform, was recorded on September 19 at $ 7.82, (which is 9% higher than the peak value registered on CoinMarketCap).
UNI’s position in the cryptocurrency capitalization rating of the CoinMarketCap resource
During the week, UNI has repeatedly become the leader among the top 100 most capitalized cryptocurrencies in terms of value growth per day. As of September 24, 2020, the token was only surpassed by the Helium IoT startup coin. The project managed to get ahead of UNI against the background of the launch of equipment for mining its cryptocurrency.
Uniswap, amid the growing popularity of its token, returned to the first place in the rating of DeFi projects in terms of the total volume of funds blocked for their needs. The platform’s closest competitor – SushiSwap – meanwhile, dropped to 9th place.
Recall that the Uniswap team decided to create their own token after the opening of the SushiSwap decentralized exchange. The latter’s competitive advantage was the presence of an internal cryptocurrency. With the release of the UNI token, the representatives of Uniswap attracted the attention of the crypto community.
Many netizens commented that UNI is going against the market.
“UNI doesn’t seem to care about the problems of boomer cryptocurrencies like Bitcoin.”.
It seems $ UNI doesn’t care about boomers’ coins like #Bitcoin pic.twitter.com/F94OHS5gkK
– Narek Gevorgyan (@narek_gevorgyan) September 24, 2020
At the same time, traders do not mind using the UNI movement against the market to make money.
Quick clarification: all my positions are scalp positions. I find the few coins that look like they are reversing trend ($ UNI, $ TOMO) and scalp them as they move up. $ BTC is still downtrending and I don’t believe you should take any swing long positions at the moment.
– Devchart (@devchart) September 24, 2020
Recall that earlier experts tried to figure out whether the UNI token can be called a security.
What investors expect from UNI?
Crypto community members continue to make forecasts for UNI. Many are confident in the growth prospects of cryptocurrency. The possibility of a positive movement, according to investors, is indicated by the results of technical analysis.
Many see the $ 5.50 level as the nearest target for UNI.
$ uni first target around $ 5.50
see # uniswap $ btc $ eth pic.twitter.com/9yErGzx2ix
– Cryptomi (@ Cryptomi77) September 24, 2020
At the same time, users do not exclude the risks of cryptocurrency entering the correction after growth.
wave 5 incoming $ uni pic.twitter.com/P5gOvey5zo
– ₿ A L O (@btcbalo) September 24, 2020
Uniswap (UNI) to $40? Uniswap Price Prediction and Technical Analysis | Token Metrics AMA
As a reminder, it was previously revealed that almost 70% of DeFiDecentralized finance (DeFi) is financial services built on the basis of blockchain technology, which offer users access to an open, efficient and … More UNI tokens settled on only 13 wallets.
I invested $7,300 into Uniswap | UNI Review and Price Prediction 🚀
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