As per the latest reports, the governance token of Uniswap, UNI has managed to gain a lot of surges with respect to its price. In the decentralized finance (DeFi) industry, Uniswap is considered to be one of the most widely adopted automated market makers (AMM).
Analysts speculate that the price of the UNI token managed to gain a surge with respect to price due to the launch of Uniswap V3. It was on Tuesday, March 23, 2021, when Uniswap made the announcement of the Uniswap V3.
As of now, the price of Uniswap is hovering over the $35 per token figure. According to analysts, the $35 per token figure comes after a 23% increase that UNI managed to gain in the last week.
The development team at Uniswap also shared their thoughts about the Uniswap V3 while announcing its launch.
The development team at Uniswap stated that they are very excited about the launch of their new Uniswap V3. The team also predicted that they are planning to launch the Ethereum L1 mainnet soon. The firm has revealed that it is planning to launch the mainnet by May 5, 2021.
The development team has also confirmed that the L2 protocol will be deployed through Optimism as soon as the first mainnet goes live.
As of now, UNI has a market capitalization of $17 billion. This means that UNI has managed to surpass several major altcoins and recently, it surpassed Litecoin (LTC). At the moment, UNI is trailing XRP in terms of market capitalization as XRP is currently hovering at a market capitalization of $25 billion.
The analysts have shared two major factors that have resulted in surging the price of UNI tokens. The first factor is the recent Initial Public Offering (IPO) that was planned by Coinbase at the United States markets. The recent Initial Public Offering (IPO) has led to the rerating of AMMs and exchange tokens.
The second factor is the amount of growth, adoption, and surge the entire decentralized finance (Defi) industry has experienced in recent months.
As a result of the amount of influx into the decentralized finance industry, UNI has managed to gain a lot of following and user-base in the automated market maker (AMM).
Apart from the UNI token, SushiSwap and Uniswap are also gaining a lot of growth, success, price, and adoption.
As per reports, the price of the UNI token on March 21, 2021, had experienced an all-time high of $35.2, which resulted due to the launch of the Uniswamp V3.
The firm has revealed that from the beginning of the year 2021 until now, UNI has experienced $73.1 billion in terms of trade volumes. Apart from that, the UNI token also experienced $219 million in fees.