Uniswap is not a traditional blockchain on the offer but rather something much more service-oriented. Cryptocurrency buyers and traders still rely on leading centralized exchanges offering a huge market potential for expansion and growth.
Uniswap was launched in 2018 as an Automated Market Maker that helped its growth and expansion plans. It not only offers a marketplace but automatically fills in liquidity voids that constantly troubles the centralized exchange.
After two years of its growth and expansion, Uniswap released UNI, a decentralized exchange governance token. At the initial time, the value was listed somewhere around $7, which climbed to an all-time high value of $44.97.
At present, the UNI token has a market cap of $7,110,122,030, which is 69% of its total 1 billion tokens. Being a governance token, the rise of decentralized exchanges will foster the growth of Uniswap over the coming days.
Uniswap has been on a downtrend since hitting its all-time high in May 2021. Quite often, it even struggled to hold on to its gains. UNI has now slipped by more than 78%, which has been pretty shocking for the UNI holders. But Uniswap is not a traditional cryptocurrency but a governance token whose price can reach sky-high with increased participation in its ecosystem and the growth of its user base. Check out Uniswap price prediction here to know more about its future.
Since September 2021, RSI has moved closer to a fresh high for the first time. This increased buying sentiment indicator reached its pinnacle despite not being able to make a year high, which was around $20. Considering UNI reaches $20 in the coming months, it will be near 100% in terms of market capitalization.
The price trend of overcoming the 50-day moving average indicates a potential for consistent upside movement. Transaction volumes on Binance have mostly been on the buying side since March 15. Reaching its previous resistance level of $31 would lead to a near 200% gain.
All these factors should be considered, as the last all-time high of $44 was marked near its Version 3 launch. Another prospective launch could help in the growing demand for UNI coins.
