{"id":921,"date":"2021-04-26T19:16:33","date_gmt":"2021-04-26T23:16:33","guid":{"rendered":"https:\/\/www.hodlin.com\/blog\/?p=921"},"modified":"2021-04-26T19:43:07","modified_gmt":"2021-04-26T23:43:07","slug":"uniswap-price-analysis-will-v3-launch-propel-uni-higher","status":"publish","type":"post","link":"https:\/\/www.hodlin.com\/blog\/uniswap-price-analysis-will-v3-launch-propel-uni-higher","title":{"rendered":"Uniswap Price Analysis: Will V3 Launch Propel UNI to $58?"},"content":{"rendered":"\n
\"Uniswap
Uniswap Price Analysis V3 Launch Propel UNI<\/figcaption><\/figure>\n\n\n\n

Uniswap is synonymous with trustless trading and the exchange of a variety of Ethereum-based ERC-20 tokens<\/a>.<\/p>\n\n\n\n

The DEX has evolved over the years to be the largest globally, helping transact over $100 billion since launch.<\/p>\n\n\n\n

Of note, it gained prominence after launching its governance token, UNI, in Sep 2020.<\/p>\n\n\n\n

As of writing on April 26, the UNI token is trading at $32 with a market cap of $9.3 billion.<\/p>\n\n\n\n

Uniswap Market Overview<\/h2>\n\n\n\n

The project’s fundamentals are firm.<\/p>\n\n\n\n

Technically, traders – despite the recent crypto cool-off, expect higher highs in the days ahead.<\/p>\n\n\n\n

Presently, the UNI price is trading at $32<\/a>, adding five percent on the last day and unwinding losses of the previous week of trading.<\/p>\n\n\n\n

Of note is that UNI is posting gains against BTC, adding roughly 10 percent week-to-date.<\/p>\n\n\n\n

Meanwhile, although traders are optimistic, participation has been tapering on the last day.<\/p>\n\n\n\n

The average daily trading volumes fell to $1 billion over the week, falling 19 percent in a correction.<\/p>\n\n\n\n

There are several explanations for this.<\/p>\n\n\n\n

On the one hand, the reduction could be because of low participation being a weekend when liquidity is thinner. On the other end, traders are cautious after slides of last week, where most assets unexpectedly dipped.<\/p>\n\n\n\n

Uniswap Market Movers<\/h2>\n\n\n\n

Aforementioned, Uniswap leads in its category as a go-to swapping platform.<\/p>\n\n\n\n

However, what’s interesting is the planned transition and upgrade to v3.<\/p>\n\n\n\n

Uniswap v3 introduces a range of benefits for the end-user, a DeFi trader put off with hefty transaction fees.<\/p>\n\n\n\n

In preparation for the mainnet launch on May 3, Uniswap v3 contracts have been deployed to four Ethereum test networks.<\/p>\n\n\n\n

\n

\ud83d\udc77 Attention everyone building on top of Uniswap v3:

\ud83c\udf10 Uniswap v3 core and periphery contracts have been deployed to all major Ethereum testnets

\ud83d\udc40 Ropsten, Rinkeby, Kovan, and Goerli smart contract addresses can be found at the following link:https:\/\/t.co\/Cb7RoOsUb5<\/a><\/p>— Uniswap Labs \ud83e\udd84 (@Uniswap) April 20, 2021<\/a><\/blockquote>