Uniswap (UNI) is on the rise, opposing the downward trend across the crypto sector, with optimism about integration into the Polygon– Even if the ecosystem continues to attract shoppers DeFi– Leader recorded increasing activity. At the time of writing, UNI / USD is trading at around $ 17.16.
The leading DEX on Ethereum has seen its market capitalization surge since it made its way into the popular scaling solution for the Layer 1Blockchain Found polygon. This development gives Uniswap’s users the convenience of faster transaction processing and lower gas fees and has helped UNI move into the top 20 cryptos Market capitalization to ascend.
Moving to the polygon ecosystem enables Uniswap to lower transaction costs, a major barrier that has recently prevented smaller retail investors from using its platform. This could expand its user base significantly, and the increase in activity may add value to its governance token in the future.
After integrating with Polygon, Uniswap’s community also has plans to diversify into another Layer 2 blockchain, Aribitrum, in the near future. This could make the DeFi application far more scalable and help it maintain its lead even as new DeFi players flood the market and threaten to take market share from them by offering their users more attractive rewards, simpler interfaces and more benefits.
Uniswap’s token is also boosted by increased buying activity among Ethereum whales. According to WhaleStats, which analyzes the activity of the 1,000 largest Ethereum wallets, UNI overtakes ChainlinkLINK token to become the most traded ERC-20 token among whales.
UNIVERSITY/ USD technical analysis
On the H4 chart of UNI / USD, most of the moving averages as well as the technical leading indicators MACD and Momentum show a strong bearish trend. However, the stochastics also show a certain interest among buyers.
UNI / USD
Uniswap’s price remains very close to the pivot point at $ 17.15, which makes things pretty precarious for buyers. Another surge of buyers can cause UNI to climb higher by the resistance testing at $ 20.32 but if more sellers get in we could see the PP collapse very soon.
Source: Crypto News Deutsch