Uniswap DEX Continues to Be Industry Leader Following $165M Raise

Uniswap Labs raises $165 million in a Series B funding round led by Polychain Capital and earlier investors Paradigm and a16z.  The post Uniswap DEX Continues to Be Industry Leader Following $165M Raise appeared first on BeInCrypto.

Timeline of Uniswap

The company behind the development of the Ethereum-based decentralized exchange, Uniswap Labs, recently announced the successful completion of a Series B. The funding round managed to raise $165 million to expand the adoption of the protocol and “bring Web3 to everyone”.

Decentralised exchange Uniswap Labs has successfully managed to raise $165 million in a Series B funding round led by Polychain Capital. Uniswap Labs has successfully raised $165 million in a new funding round as the firm looks to expand its offerings.

The period between July and September was marked by a decline in key performance indicators for Uniswap [UNI], Messari found in a new report. In its latest report titled “State of Uniswap Q3 2022,” the blockchain analytics platform assessed the performance of Uniswap in the last quarter.

Uniswap Labs, the parent company of decentralized crypto exchange Uniswap, announced raising $165 million in the Series B funding round with $1.66 billion in valuation. The round was led by Polychain Capital and with participation from existing investors a16z crypto, Paradigm, SV Angel, and Variant.

Uniswap announced it succeeded in raising $165 million in the second round of its funding campaign. The post Uniswap Labs valued at $1.66 billion after $165 million Series B appeared first on The Block.

Uniswap price analysis indicates UNI prices opened the daily chart trading as low as $6.06 and continue to trade in a bearish trend. After the recent market-wide sell-off, the cryptocurrency has not been able to find any buyers at higher levels and has slipped below the $6.00 level.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Uniswap forms a bearish reversal pattern 4-hour session close below support bodes ill for buyers Uniswap has performed well in the markets in recent weeks.

On October 5th, the Uniswap coin price gave a bullish breakout from the monthly resistance of $5.7 resistance breakout should encourage buyers to complete a bull cycle within the symmetrical triangle pattern. However, until the price action remains in this pattern, the altcoin will follow a sideways path.

In a recent update, Uniswap announced that it outperformed other DEXs in terms of market share on the Arbitrum network. Even though UNI's total value locked (TVL) didn't register impressive growth, the alt has been doing well on the price charts over the last seven days.

Following the June-July recovery, the Uniswap coin price showcased a steady correction over the past two months. However, this correction assisted buyers in forming a Cup and handle pattern.