The decentralized crypto exchange Uniswap has recently reached $250 billion in volumes on layer-2. As a result, the path of the UNI token is heading towards $10, amidst regulatory challenges and much more.
Let’s see below all the details.
Summary
New milestone for Uniswap: the crypto exchange surpasses $250 billion in volumes
As anticipated, Uniswap, the leading decentralized crypto exchange (DEX), has reached a significant milestone by recording a trading volume of $250 billion through its Layer-2 (L2) platforms.
This result highlights the increasing adoption of L2 solutions and at the same time fuels the debate on the future evaluation of the UNI token. Especially in a context of regulatory challenges and changing market dynamics.
The decentralized framework of Uniswap and its innovative approach to financial markets have positioned the platform at the forefront of the cryptocurrency ecosystem.
Facilitating a trading volume of 250 billion dollars through its L2 platforms, including Arbitrum, Polygon, Optimism, and Base, highlights the scalability of Uniswap, the reduction of transaction costs, and the improvement of user experience.
This success also highlights the paradigm shift towards more efficient and scalable trading platforms. Furthermore, it consolidates Uniswap’s role as a pioneer in decentralized finance (DeFi).
The price of the UNI token: regulatory obstacles and market stagnation
Despite record volume, the price of Uniswap’s native token, UNI, has shown a relatively weak performance. Price stagnation has been attributed to strong selling pressure from large holders, exacerbated by regulatory challenges.
Recently, the Securities and Exchange Commission (SEC) of the United States issued a Wells Notice to Uniswap Labs, indicating potential legal implications.
This has further intensified uncertainty in the market, influencing investor sentiment and casting shadows on UNI’s short-term trajectory.
Hayden Adams, the founder of Uniswap, has expressed his concern about the actions of the SEC, reaffirming Uniswap Labs’ commitment to legal and ethical compliance.
Despite the regulatory headwinds, Adams remains determined to support the innovation of Uniswap and the broader DeFi ecosystem.
With the evolution of the market and the constantly changing regulatory climate, there is much speculation about the potential of UNI to reach $10.
The resolution of regulatory issues, the continued adoption of L2 platforms, and the general market sentiment will be key factors in determining the future path of the token.
The price volatility of UNI reflects the challenges and uncertainties inherent in the cryptocurrency market, suggesting that short-term performance remains highly unpredictable.
Uniswap: 31% token rally forecast
As mentioned, Uniswap’s native token, UNI, has recorded negative performances in the past few weeks. However, the price of UNI seems to show signs of recovery, with a 2% increase in the last 24 hours.
The cryptographic analyst Ali Martinez, in a recent post on platform X, predicted a possible trend reversal for UNI.
According to Martinez, the token could be at the beginning of a bullish rally, with the price expected to rise up to 10 dollars, an increase of over 31% from the current level.
The bullish forecast is based on the sequential indicator TD (Tom DeMark), a technical analysis tool used to identify potential trend reversals and trend exhaustion points.
The TD Sequential is composed of two phases, the “setup” phase and the “countdown” phase. In the case of UNI, the token has just completed the setup phase, which includes nine consecutive candles closed below the candle from four periods ago.
According to the TD Sequential methodology, the completion of this phase suggests a potential trend reversal, with a likelihood of an uptrend if the candles in the configuration phase have been mostly red.
Martinez highlighted that the TD Sequential has issued a buy signal on the daily chart of UNI. Suggesting that the token could be ready for a rally of 1-4 days, with a price target of $10.
