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.
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.