New Uniswap (UNI) Protocol Launch Sparks User Activity Surge: Is This Bullish for Price?

The Uniswap (UNI) price has gained 14% over the past week as the markets react favorably to the recent UniswapX protocol launch. Will the long-term investors continue to hold out for more gains?

Timeline of Uniswap

Much like CoWswap and 1Inch Fusion, Uniswap's new protocol is expected to greatly enhance the user experience with some very convenient features, all the while keeping unaltered the application interface we all know.

Uniswap, a decentralized exchange (DEX) ecosystem, could become one of the best-performing crypto assets this week, following an inverse head-and-shoulders (H&S) pattern breakout. Up 15% over the last week, UNI is trading slightly above $6 with $219 million in trading volume rushing in.

Uniswap, the leading decentralized exchange (DEX), has announced the launch of UniswapX, a permissionless and open-source protocol for trading across automated market makers (AMMs) and other liquidity sources. According to the announcement, UniswapX aims to improve self-custody swapping and grow on-chain trading by offering better prices through the aggregation of liquidity sources, gas-free swapping, protection against maximal extractable value (MEV), and no cost for failed transactions.

DeFi exchange Uniswap has launched a new blockchain protocol called UniswapX. The new protocol will enable trading across automated market makers and offer gas-free swapping, among other things.

After double-digit gains in the second half of June, Uniswap (UNI) price has dropped to $5.3 this week following unsuccessful attempts at reclaiming the $6 territory. On-chain data suggests the UNI price rally is cooling off as the SEC FUD surrounding centralized exchanges fades.

CoinMarketCap released its Q2 report which stated that most exchanges witnessed a decline and Uniswap was one of them. However, will the scenario change in Q3 of 2023 and will UNI recover from its ongoing selling pressure?

Uniswap (UNI) is strengthening its stance as the top decentralized exchange (DEX) in the Web3.0 world. A recent update from GeckoTerminal, a crypto analytics platform, showed that Uniswap V3 has inked considerable growth in its 24-hour trading volume.

Despite the losses incurred earlier this month, the price of Uniswap (UNI) has managed to recover. However, it has struggled to break through a significant resistance level, causing it to remain stagnant.

After the recent release of a proposal for a new "v4" version of the decentralized exchange Uniswap, CoinDesk's Sam Kessler chats with Uniswap Labs CEO Hayden Adams about the case that DeFi is “here to stay” and his position that the U.S. “lags behind” on crypto regulation.

Uniswap (UNI) has emerged as a formidable force within the cryptocurrency space, showcasing an impressive growth of 22% in recent weeks. As one of the leading decentralized exchanges (DEX) built on the Ethereum blockchain, Uniswap has gained widespread recognition for its innovative approach to facilitating peer-to-peer token swaps.