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 its active growth.
UNI Week 1 Results
At the time of this writing, the token is in 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).
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 amid 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, Uniswap representatives again attracted the attention of the crypto community.
Many netizens commented that UNI is going against the market.
At the same time, traders do not mind using the UNI movement against the market to make money.
Recall that earlier experts tried to figure out whether the UNI token can be called a security.
What do 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.
At the same time, users do not exclude the risks of cryptocurrency entering the correction after growth.
As a reminder, it was previously revealed that almost 70% of UNI’s DeFi tokens settled on only 13 wallets.