Why The Uniswap (UNI) Token Is Almost Worthless: Researcher

In an analysis, Anders Helseth, Vice President at K33 Research, has mounted a strong case against the viability of the Uniswap (UNI) token. His analysis pivots on the intriguing dynamics of the decentralized finance (DeFi) market, fundamentally challenging the current valuation and future potential of UNI.

Timeline of Uniswap

Uniswap (UNI) has experienced a remarkable, bullish surge in its price amidst mounting sell-pressure on cryptocurrency exchanges. Bullish crypto traders have actively placed orders to buy 1.3 million UNI tokens, driving the price to $6.43, one of the highest levels in the past four months.

Sitting at $5.80, the Uniswap (UNI) price is now up over 50% since it rebounded from its recent local bottom of $3.63 on June 10. While bullish investors look to push for a new 2023 price peak, critical UNI on-chain warning signs have emerged.

Hayden Adams, the founder of Uniswap, expressed his desire for more crypto projects to focus on disrupting popular Web2 (centralized) applications using the unique capabilities of cryptocurrencies.

In a recent incident, members of the Crypto Twitter community swiftly identified and alerted others to a scam perpetrated through Uniswap founder Hayden Adams' compromised account. The “Web3 Security Alerts” channel on Telegram was quick to notify followers about the breach, which occurred on July 20.

Uniswap CEO and founder Hayden Adams has had his Twitter account compromised. Furthermore, hackers are increasingly targeting crypto industry personalities as an easy way to lure victims into their scams.

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?

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.