UNI jumped to a value above $30 before taking a dip slightly. From December onwards, UNI has been displaying an uptrend; however, the massive surge was reported on Saturday when UNI’s price sharply rose from $19 to $33.
UNI’s price recently surged to $33 due to several factors like the increase in the DeFi sector interests, an influx of traders on all exchanges, and an overall increase in the TVL (total value locked). The rise in UNI’s price made Uniswap the first largest decentralized exchange to surpass the $100 billion trading volume mark.
Currently, UNI’s price is $29.05, and its market cap rank is 12. UNI reported gains of 41.50% in consecutive weeks. In recent times, it managed to give tough competition to other high-performing cryptocurrencies like Bitcoin and Ethereum by over 17.62% and 8.45%, respectively.
It is being analyzed that UNI can depend only on the Fib retracement levels to continue rallying upwards. Therefore, they need to post a daily growth of over 23.6% Fib retracement level. It is currently trying to gain a 23.6% Fib retracement level at $29.79.
Uniswap is a decentralized trading protocol and liquidity provider. It is an open financial marketplace that is accessible to all crypto traders and developers. It provides a suite of powerful tools for managing the tokenized assets, which is highly beneficial for the token owners. You will also find the Uniswap community on all major social media channels such as Discord, Twitter, and Reddit.