STOCKS TELEGRAPH

Tag: Uniswap

  • Uniswap (UNI): Heading towards resistance level?

    Uniswap (UNI): Heading towards resistance level?

    Uniswap (UNI) has been hit by market corrections after the cryptocurrency established an all-time high at $44.97. At the time of press, Uniswap stands at a price level of $40.25. The price of UNI coin has fallen by 3% in the past twenty-four hours while the daily trading volume is on a slow rise. Ranked eleventh in the market, the capitalization of the cryptocurrency has also fallen in lieu with the price.

    Uniswap (UNI) technical analysis

    The technical indicators are giving out a buy signal for Uniswap – indicating towards a bullish sentiment in the market. Out of the twenty-six technical indicators, ten bare standing at a neutral position while twelve are giving out a buy signal with only four indications of sell. The oscillators are neutral while the moving averages are strongly bullish.

    In the 45 minutes timeframe, Uniswap has been identified to be operating in a descending channel formation. The descending upper boundary is acting as strong resistance for UNI coin while the lower boundary has been established as strong support. Uniswap has retested the support at the lower boundary and it had held. After falling lower than the 20-day Moving Average and with the 20-MA acting as resistance, UNI coin has, once again, gone above the MA level. Keeping the upward movement in mind, UNI crypto may retest the resistance level at around $43 – or at least head towards that level.

    Could Uniswap break its ATH?

    The recent bullish trend in Uniswap’s market can be accorded to the launch of the V3 update. The V3 was the most anticipated upgrade of the decentralized exchange. The most powerful version to date, V3, provides increased capital efficiency and better infrastructure for traders.

    While the V2 protocol is still live on Ethereum’s blockchain, it is expected that eventually majority of the users will migrate to V3. In just two days after its launch, users have registered complaints primarily about the high gas fees. However, it has also been reported that the V3 has processed more than double the volume that V2 did in its first month. The newer version of the Ethereum-powered automated market maker can take it to newer highs.

  • Uniswap (UNI) Price Prediction: UNI to Hit 0?

    Uniswap (UNI) Price Prediction: UNI to Hit $250?

    Uniswap (UNI) is going strong on its upward trend where many cryptocurrencies have succumbed to bearish pressures. The coin has its all-time high at $39 and at the time of press, Uniswap is trading hands at $36 – not very far from the all-time high. The price of the cryptocurrency increased by nearly 20% in the past 24 hours while the trading volume shot up by a whopping 230%.

    The market sentiment for Uniswap is bullish as the technical indicators are giving out a signal of buy. Out of the 26 technical indicators, ten stands at a neutral position and fifteen are giving out sell signals while only one indicator stands at sell.

    Trader Jemkie is strongly bullish on cryptocurrency. Per the trader, Uniswap is currently at a six-week consolidation, after which, an increase of 1000% is expected from the cryptocurrency. The trader is expecting a price surge to $257 towards the end of the year. The analysis is based on historical trends of Uniswap’s price actions. A similar trend was spotted in December 2020 which resulted in the current all-time high price. If the analysis is validated, the future of the cryptocurrency, afterwards, do not appears to be as bright as the trader expected Uniswap to fall back to its current price level eventually. However, the trader also pointed out that Uniswap is a relatively new cryptocurrency and it may still be in its price discovery.

    What is Uniswap?

    Uniswap is a decentralized exchange (DEX). The trading protocol enables the trade of DeFi tokens but in a completely automated and decentralized way. Uniswap is also known as an Automated Market Maker (AMM) and was launched in 2018. It is one of the top AMM currently standing at a market rank of 8th in terms of capitalization.

    Uniswap has announced its latest version, V3, to be launched on May 5. The new version is designed to make Uniswap “the most flexible AMM ever”. V3 incorporates concentrated liquidity positions and multiple levels of commission among other things.

  • Uniswap – One Step Closer to V3

    Uniswap – One Step Closer to V3

    The leading decentralized exchange, Uniswap, has moved a step closer to its third iteration as it has announced the successful deployment of V3 smart contracts to Ethereum’stestnets. The smart contracts are now on Ethereum’stestnets – Ropsten, Rinkeby, Kovan, Goerli – and the testnet addresses have been posted on GitHub. Amidst the developments of Uniswap V3, the DEX has also reported a record high weekly trading volume of $10 billion.

    Uniswap V3 is the newest iteration of the Uniswap protocol. The iteration is designed to provide better capital efficiency for users and greater capital control for lenders. This will be done through the two hallmark features of the iteration – concentrated liquidity and multiple fee tiers. The result will be the most efficient and flexible AMM ever made, according to Uniswap’s team.

    Uniswap has a high valuation and dominance in the Automated Market Maker sphere but the new iteration will further boost the DEX. Previously, the announcement of the V3 had led to a surge in the price of the native token of the governance. The launch of the V3 iteration will probably result in another price surge of the native token, UNI.

    The iteration is set to launch on May 5.

  • Bridging crypto & stock market: Tenset launched on Uniswap

    Bridging crypto & stock market: Tenset launched on Uniswap

    Tenset or 10set is a deflationary token based on the Ethereum block chain. The project is a bridge between cryptocurrency and the stock market. Investors can place their money in a 10set token which is based on multiple projects – both cryptocurrency and stocks. Each token is going to be smartly backed by cryptocurrencies, as well as shares ultimately, to generate passive income.

    Tenset.io has officially launched on Uniswap – the popular decentralized cryptocurrency trading platform. The total supply of 10set is at 205 million while the current supply is at 81 million. 10set has already burnt 5 million tokens which is a good indicator.

    The first pair of tenset launched was 10set/ETH. Tenset.io after being on the Uniswap for just a day has already entered the top ten trading pairs at 6th place. The project is garnering increasing interest. The cryptocurrency also got featured on Cointelegraph, Korea and the excitement around the world for 10set is growing.

    Tenset
    Tenset

  • Cryptocurrency WATCH: Last Week’s Best & Worst Performers

    Looking at the top gainers and losers for the week, here is all you need to know about top performers and not-so-top performers of the week.

    Top Crypto Weekly Gainers

     

    Vanilla Network (VNLA) bags the first rank in the weekly timeframe with its phenomenal performance. The cryptocurrency established its all-time high at $28, although it went down to $25 – the price at the time of writing. The daily trading volume stands at 800K -which observed a slight decline of 5%. Vanilla Network is a deflationary token which applies the fundamentals of economics by driving up the demand with a continuously restricting supply.

    BackPacker Coin (BPC), too, has stolen the limelight. As of this writing, the cryptocurrency stands at $2.91 – skirting close to the all-time high of $3.12 established earlier in March. The price observed an increase of around 570% in the past 24 hours. The daily trading volume is $1,064,307 and the market capitalization stands at $18,709,878 which went up by 570%. The vision of the network is to revolutionize the travel industry through a universal stable coin payment system which has negligible costs and lightning fast speed.

    EXMO Coin (EXM) is another top performer. With a price level of $0.085, the price increased by 25% in the past 24 hours. The daily trading volume of the coin stands at $8,073,588 which also went up by around 50%. EXM is the utility token of one of the largest trading platforms of Eastern Europe by the name of EXMO.

    Storj (STORJ) – the open source cloud storage platform – has been in the headlines too. The cryptocurrency established its all-time high at a price level of $3.91 two days ago. The coin stands at a price of $2.71. The recent listing of Storj on Coinbase has been a factor in the price rally of the coin.

    Last but not the least, the top fifth top performer of the week is Metal (MTL). Although the coin is still a long way from hitting its all-time high, Metal is on an upward rally. The coin is priced at $3.76 which increased by 180% in the past 24 hours. The daily trading volume is at $4,206,599,851 which observed a phenomenal increase of 4200%. Metal is the native token used for Metal products and on the Metal ecosystem. Metal Pay – the peer to peer crypto payment platform – has filed to become a national bank in the US.

    Top Crypto Weekly Gainers

    UniSwap – the popular decentralized trading platform – has lost some of its luster as it makes to the top of the losers list in the weekly timeframe. Uniswap (UNI) is standing at a price level of $28 – which is not far from the earlier-established all-time high of $36. The daily trading volume of $555,049,589 has went up by 40%. The coin stands at a market ranking of 8 in terms of market cap. A Uniswap ad was sold for $525k as an NFT and although the platform is doing well, competition from PancakeSwap as derailed the upward trend of Uniswap.

    SushiSwap (SUSHI) stands at a price of $15. The cryptocurrency is on a downward trajectory ever since the establishment of its all-time high at $22 in early March. SushiSwap is a famous Automated Market Maker (AMM) and can be dubbed as an advanced version of Uniswap, employing additional features. The exchange is supposed to unlock $880 million in tokens but uncertainty marks the air as the network fears a massive dump.

    pNetwork (PNT) takes the third place in the weekly losers list. The cryptocurrency is priced at $2.51 with a daily trading volume of $30,022, 814. pNetwork is a cross-chain interoperability solution with the aim of increase the interaction between decentralized apps. The network also focuses on not just transfers of assets but NFTs and smart contracts. The network is currently in collaboration with ChainGuardians to create a bridge between Ethereum and Binance Smart Chain.

    IOTA coin, another top loser, stands at a price level of $1.54 with a daily trading volume of $145,782,733. The bulls of the cryptocurrency has been weak in the whole bull run as IOTA struggled to go upwards. It is a long way from its all-time high of around $5 established in 2018. The coin has launched on Binance Smart Chain which may propel it towards the upside.

    MahaDAO (MAHA) crypto is the fifth loser of the week. The cryptocurrency established it all-time high in early January and ever since then it has been on a downward trend. At the time of writing, MAHA sands at a price level of $7.95 with a daily trading volume of $1,849,898. MahaDAO is a decentralized non-depreciating algorithm token, the value of which is based on a basket of assets.

  • Uniswap (UNI) coin to pick up bullish momentum anytime soon?

    Uniswap (UNI) coin to pick up bullish momentum anytime soon?

    Uniswap (UNI) coin has embarked on an uptrend since the beginning of the bull run. The cryptocurrency established its all-time high at $33. However, the price of Uniswap is currently suffering from some major pullbacks. As of this writing, Uniswap stands at $27. The price has decreased in the past 24 hours by 13% while the daily trading volume has gone down by 33% – effectively showing that the market for the cryptocurrency is in correction.

    Uniswap is ranked at 8th by Coinmarketcap in terms of market capitalization. The market cap of the cryptocurrency stands at $14,268,119,577 which also decreased by around 13%. Uniswap has a total supply of 1 billion tokens while the coins in circulation are at 52 million.

    What is Uniswap?

    Uniswap is a decentralized trading protocol which facilitates the transactions of cryptocurrencies by using smart contracts on the Ethereum block chain. The decentralized exchange makes use of automated liquidity protocol. Uniswap is an open source project and is not profit-driven like centralized exchanges which means cryptocurrencies can be listed on the decentralized exchange (DEX) for free.

    Uniswap has shot up in value because of the recent surge in the decentralized finance sphere. With development being made everywhere to boost up decentralized finance, decentralized exchanges like Uniswap are gaining in value.

    Technical analysis

    The market sentiment for the cryptocurrency has turned bearish with most of the technical indicators giving out a sell signal. A trader has identified a potential head and shoulder formation by Uniswap. The H&S formation is bearish in nature and indicates towards sustained bearish momentum in the coming days. Per the trader’s analysis, Uniswap has entered a downward trending channel and is testing n ascending support line. If Uniswap is able to hold the support line then the current corrections are only minor and Uniswap will resume its upward trend. However, if the coin rejects the support level then the H&S formation will be validated and Uniswap will enter a bear zone.

    Will the price reverse?

    Currently, under strong bearish momentum, the future outlook for Uniswap cryptocurrency appears to be gloomy. But the decenralised exchange revealed details of a much-awaited network upgrade which may cause a reversal of the price. The V3 update is scheduled for May 5th, 2021. The upgrade is set to increase the efficiency and flexibility of the network.

    The Uniswap network has been facing Gas issues. A huge chunk of the transaction costs on Ethereum block chain is attributed to Uniswap. The V3 upgrade is designed to solve this problem through the launch of a Layer 2 scaling solution. Apart from this, the upgrade also has many other features that have the potential to help Uniswap reach the moon.