Uniswap is a crypto exchange protocol for crypto-to-crypto swaps, and also the name of the company that built the decentralized swap protocol. UNI is the native token to the protocol and it seems to be gaining momentum although Uniswap is a rather young project. Users can use Uniswap to deposit their funds to liquidity pools and earn interest based on their deposited balances, which is probably why UNI is gaining in popularity. Popularity is a factor that can likewise push the price of a crypto, as well as its utility. What is Uniswap (UNI) and should you invest in UNI?
What is Uniswap and Should You Invest in UNI?
Uniswap is a decentralized crypto swap protocol created by the Uniswap company. The protocol allows users to instantly swap crypto for crypto. Users can also make deposits to Uniswap liquidity pools and earn interest based on their deposited balances. Uniswap has strong utility, which is where its intrinsic value lies. Uniswap managed to reach a new ATH price on March 22nd, 2021, trading at the price of 35.48$, however, a prompt reversal in trends brought the price down by -8% in a matter of 13 hours at the time of the writing. Still, UNI is recording gains on the weekly chart, showcasing over 12% and 15% in the course of the last thirty days. Judging by its utility and the positive momentum with a market cap of over 17 million dollars, UNI makes a proper investment for crypto enthusiasts. Given the fact that Uniswap enables deposits to liquidity pools, users can earn extra revenue through interest rates on deposited balances.
Uniswap (UNI) Price Analysis for March 17th to March 23rd
- UNI is trading at the price of 33.36$ after the latest price change
- The weekly chart is showing 12% of gains
- The lowest price for the week is 29.88$
- The highest price for the week is 35.48, which is the latest all-time high price for Uniswap crypto
Image credits: Cover photo taken from Medium
