Cointelegraph.comuni priceuniswap v3

Uniswap V3 launches — UNI prices surges by 8% in minutes

UNI, the native governance token of Uniswap, surged immediately after the Uniswap V3 launch.
UNI, the governance token of Uniswap, the most widely utilized automated market maker (AMM) in DeFi, has surged significantly after the launch of Uniswap V3 on March 23. At just over $35 per token, UNI has gained nearly 23% in the past weekThe Uniswap team said:”Today, we are excited to present an overview of Uniswap v3. We are targeting an L1 Ethereum mainnet launch on May 5, with an L2 deployment on Optimism set to follow shortly after.”With a market capitalization of $17 billion, it has surpassed some major perennial altcoins such as Litecoin (LTC), putting UNI right under XRP whose market cap is over $25 billion. UNI/USD 4-hour price chart (Gemini). Source: TradingView.comWhy is UNI and Uniswap seeing strong momentum?There are two key reasons behind UNI’s massive rally in the past two months. First, Coinbase’s planned initial public offering (IPO) in the U.S. market has caused the rerating of exchange tokens and AMMs.Second, the overall increase in the interest in the DeFi sector has pushed up the valuation of major AMMs, including Uniswap and SushiSwap.On March 21, the price of UNI reached a new all-time high at $35.2, fueled by the excitement surrounding Uniswap V3. Analysts at Intotheblock said:”Uniswap’s governance token $UNI reached a new high of $35.2 with a lot of excitement building around the upcoming v3. In just 78 days of 2021, the protocol did $73.1b in traded volume and over $219m in fees. As …
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