Decentralized Finance (Defi) is the talk of the town, and many crypto enthusiasts are flocking into space. While the stability of the space remains quite uncertain, coins relating to such financial tools are gaining great market traction and attention.
The “big names” of the industry have evolved over time. While Chainlink (LINK) was the first to amaze everyone with an insane monthly gain through August, other newcomers like Yearn Finance (YFI), also shun through the markets at their prime.
The most recently evolved of all is UniSwap, which has taken the crypto markets by quite a surprise. Being a great Defi investment option, our price prediction article hopes to throw light upon the future possibilities. As an active or a potential investor, we hope to answer as many questions that you may have concerning your decision to invest in UniSwap.
What Is UniSwap?
Uniswap is a decentralized exchange founded by Hayden Adams in November, 2018. The protocol exists in the form of two smart contracts hosted on the Ethereum blockchain, as well as a public, open-source front-end client. It’s a 100% on-chain market maker allowing the swapping of ERC20 tokens, as well as ETH to an ERC20, and vice-versa.
UniSwap enables its users to exchange any ERC20 token, including the native ETH token, without middlemen, and allows anyone with an Ethereum address to contribute to the exchange’s liquidity, and thus earn from it.
UNI is the native token of the Uniswap protocol, and it entitles its holders to governance rights. This just means that UNI holders can vote on changes to the protocol. The tokens were launched in an airdrop to thousands of users in mid-September, 2020.
The introduction of the tokens will allow the community of holders to be involved in the governance of the protocol.
1 billion UNI tokens was minted at genesis. 60% of Mothose was distributed to existing Uniswap community members, while 40% was made available to team members, investors and advisors over the course of four years vesting periods.
UNI Price Today
Uniswap (UNI 8% Gain): Uniswap airdropped at least 400 Units of UNI tokens to thousands of users. While this caused great excitement among crypto enthusiasts lately, the coin also caught a bullish momentum.
UNI coin gained around 8% since yesterday. The coin has an excellent market sentiment among traders voting for a prolonged bull market as the quarter proceeds.
In the 24-hour timeline, the coin is up almost 50% and the bullish movement seems to still be intact.
Technical Points
- General price trend is bullish
- Major price support is set at $4.0
- Next level of possible resistance lies at $4.5
At the time of writing this piece, UNI is trading at $4.41. Its market cap is hovering around $697 million.
Did You Know ? Uniswap held one of the most rewarding kinds of airdrops in crypto history. The platform airdropped at least 400UNI tokens to each of its customers within a snapshot period. At the time of distribution, the tokens were instantly tradable and worth around $1,500.
UNI Technical Analysis
UNI sprang to life a couple of weeks ago after an historical airdrop. Hundreds, if not thousands of Uniswap users and stakeholders were airdropped 400 UNI tokens for each binding address. Being less than a month old in the ecosystem, the coin outperforms many usual gainers and takes the 33rd position by market cap.
On September 17, UNI went live on several exchanges at a price of around $3.71. In the following hours, however, UNI made massive gains despite the “dump in the air” caused by the recent airdrop.
By the next day, UNI had already improved its price by around 40%. As of the 18th of September, each UNI tokens was worth around $6 after falling from a height close to $8.5. This total airdropped amount, at this time, had grown to about $2,400.
As of the next day, the 19th of September, more gains led UNI into greater heights. The tokens had grown to around $6.5 with an all-time-gain of 85%. This is where things stand as of now.
As prices continue into the bullish momentum, UNI recorded an all-time-high around $8.3. This price altitude was recorded around September 23, 2020.
UNI Price Prediction 2020
By the end of the year, however, just like YFI, each UNI token may see massive growth and trade at a higher price. A $10 UNI by the ending of the year is most likely. In the worst cases of a bear market, UNI may sink back all the way to around $4 and maintain momentum at the corner.
UNI Price Prediction 2021
As the Defi space grows into the year 2021, pioneer swap services like Uniswap are bound to see explosive developments. This, in turn, may escort the price of the tokens towards greater heights by mid-2021. In view of this, UNI may be headed for as high as $15 per coin.
UNI Next 5 Years Price Prediction
In the next 5 years or by the year 2025, the massive growth expected within the crypto space will definitely affect defi. Maybe more than the other sectors of the blockchain industry and Uniswap will grow in user-base. If this, as expected, grows Uniswap’s market capitalization, a boost in the coin’s price is inevitable. At this time, we should look forward to a $30 UNI.
UNI Market Prediction
#1. Digital Coin Price: According to these experts, UNI price ill be trading around $13 by next year. Before the end of 2020, however, DCP is a bit bearish and predicts prices may fall.
#2. Coinabitrage: These experts present an equally bullish price sentiment. They predict UNI tokens could be trading at $39 in three years’ time.
#3. Wallet Investors: WI has a neutral approach towards UNI. The experts are neither bullish nor bearish at the moment and present no prediction cases.
Our UNI Price Prediction
Having taken into consideration various expert predictions, we think UNI is bullish in the longer term. By the end of 2020, UNI may remain conservative and trade at around $7. In the coming years, however, UNI price remains generally bullish.
Uniswap – UNI Token News
#1. Uniswap Protocol Token, UNI Goes Live!
UNI tokens were introduced with an airdrop on the 17th of September and have been listed on many crypto exchanges.
#2. Uniswap V2 Mainnet Launch
Uniswap V2, the second iteration of the Uniswap protocol, has been deployed to the Ethereum mainnet!
An audit report and formal verification was released and the Uniswap V2 Bug Bounty was live running for over a month since April.
#3. Series A Funding
In August, Uniswap announced that they had raised $11M in Series A funding led by Andreessen Horowitz with additional investments from USV, Paradigm, Version One, Variant, Parafi Capital, SV Angel, and A.Capital.
FAQ’s
- What Is Uniswap?
Uniswap is a decentralized exchange in the form of two smart contracts hosted on the Ethereum blockchain, as well as a public, open-source front-end client.
- How does Uniswap Work?
Uniswap is an automated liquidity protocol. There is no orderbook, no centralized party and no central facilitator of trade.
- What Is a UNI Token Contract?
UNI contract address: 0x1f9840a85d5aF5bf1D1762F925BDADdC4201F984
- How Many Liquidity Pools Exist On The Uniswap Network Presently?
To start, UNI is available through four liquidity mining pools: UNI holders may vote to add more pools after an initial 30-day governance grace period.
- When Does The Initial Liquidity Mining Period Ends?
An initial liquidity mining program went live September 18 2020 12:00am UTC. The initial program is scheduled to run until November 17 2020 12:00am UTC.
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