It took Uniswap a day to get close to the top 20 cryptocurrencies

Crypto community members see the potential for further growth of UNI.

The token of the Uniswap decentralized exchange (UNI) has risen from 203 to 26 in the CoinMarketCap cryptocurrency capitalization rating in a day. Within 24 hours, its capitalization increased by 15%. At the same time, the price of the asset rose from $ 4.45 to $ 5.13.

Data: CoinMarketCap

Recall that representatives of the Uniswap decentralized exchange decided to launch UNI against the background of the opening of an alternative trading platform SushiSwap, one of the advantages of which was the presence of its own token. The interest of the crypto community members in the new platform led to the loss of 75% of liquidity for Uniswap.

In order to draw users’ attention to UNI, the Uniswap team organized an airdrop (distribution of cryptocurrency). Each user of the decentralized exchange got the opportunity to become the owner of at least 400 tokens. Amid an organized distribution, the network was flooded with messages about the receipt of cryptocurrency.

The network users who applied for free tokens in Ethereum caused clogging of the network due to the pending transactions. At the same time, members of the crypto community have once again recorded an increase in the cost of ETH gas. The popularity of UNI has influenced Ethereum blockchain as the tokens are based on it.

At the time of writing, the token is listed on a number of major exchanges including Binance, OKEx, Huobi, and KuCoin. The top 5 trading pairs by volume of transactions in 24 hours are as follows:

Data: CoinMarketCap

The active growth of UNI within a day after its launch entailed discussion about its future. Numerous users made their forecasts. Many investors believe that the token will continue to move forward – to the leaders of capitalization, and will enter the top 3.

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