Uniswap

Three Super Rewarding Tokens to Buy in 2022 – Dogecoin, Carlossy Caterpillar, and Uniswap

August 28, 2022 by Akash Anand

The advent of blockchain technology has broadened the world’s perspective on financial services and basic transactions. With the recent development within the cryptocurrency space, there is a great indication that the worth of the coin market will surge in the coming years.

Dogecoin (DOGE) is the most popular meme coin on the cryptocurrency market, whereas Uniswap (UNI) is a decentralized crypto exchange that has grown to become one of the cryptocurrency market’s most successful projects.

On the other hand, Carlossy Caterpillar (CARL) has captured the attention of investors and the meme community with its innovative blend of hype, education, and a variety of use cases. In this article, you will learn all you need to know about Carlossy Caterpillar (CARL) and why it is a great option for long-term crypto investment.

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Dogecoin (DOGE)

DOGE, the original meme token, was released in 2013 and is now the most popular meme coin in the cryptocurrency market. Dogecoin is one of the most well-known meme coins on the cryptocurrency token market, and it has the full support of billionaire Elon Musk. Because of their rapid development and refinement over time, the cryptocurrency market has begun to recognize meme coins as the legitimate investment that they are.

Because of Elon Musk’s supportive words, the price of this cryptocurrency has climbed dramatically over the last two years. Tesla also takes Dogecoin as a form of online payment for some of its products. Because there is only so many DOGE, there will definitely be an expansion in the future.

Dogecoin (DOGE) is distinguished from other meme coins by its distinct and active community, which trades with it and uses it as tipping money for social media content. The DOGE Token had relatively little value when it was created because the initial market landscape was still blossoming into the money-making environment that it is today, and the DOGE token is currently one of the top ten largest cryptocurrencies by market cap.

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Uniswap (UNI)

The renowned decentralized cryptocurrency exchange Uniswap (UNI) has launched a new feature that allows users to trade directly from their wallets. The new “Wallet-to-Wallet” trading function will enable users to connect their wallets to the Uniswap platform and trade directly with one another. Users will no longer be required to deposit funds into a centralized exchange, which might be risky.

Because of its simple and effective design, Uniswap has grown in popularity. Users can trade directly with one another on the site, eliminating the need for a middleman. This reduces fees and improves trading efficiency. The addition of Wallet-to-Wallet trading will make Uniswap even more appealing to consumers seeking a simple and convenient way to trade cryptocurrencies.

Uniswap (UNI) tokens were released in September 2020 and quickly gained value, becoming one of the top 20 cryptocurrencies in terms of market capitalization. Uniswap (UNI) tokens, on the other hand, have since lost value in the Bear market of 2022. Nonetheless, we believe that Uniswap (UNI) tokens have high long-term potential and may be a solid investment at current pricing.

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Source: Unsplash

Carlossy Caterpillar (CARL)

The beginning of this meme coin can be traced back to a conflict between Marks & Spencer and a German firm called Aldi over the theft of a famous dessert dubbed “Colin the caterpillar.” The quarrel went viral and became a meme, giving rise to Carlossy Caterpillar (CARL).

Nonetheless, Carlossy Caterpillar (CARL) has announced its intention to be more than a meme coin, which many have labelled as being supported solely by the hype of influencers and having no genuine worth. Carlossy Caterpillar (CARL) is based on the Binance Smart Chain (BNB) and offers fund security, compatibility with Ethereum (ETH) dApps, and minimal trading fees.

Carlossy Caterpillar (CARL) is the product of an invention aimed at establishing an experimental community for a decentralized system while also contributing to the development of the blockchain system. Furthermore, the meme coin – CARL will be traded, staked, and purchased on numerous exchanges, offering it greater utility than many other meme cryptocurrencies.

Carlossy Caterpillar (CARL) is still a few days away from launching presales, but it has already begun by offering incentives to buyers. Users who purchase CARL with BNB on Binance Smart Chain (BSC) will earn a 20% rise in their CARL currency balance. The same is true for Tether USDT purchases on the TRON network.

Please find more information here.

Look Out As Big Eyes Coin is Set to Join Chainlink and Uniswap In Taking Over The Crypto Market

August 26, 2022 by Akash Anand

It is well known within the crypto industry how important it is that a project has the full backing and support of its community. Many of these crypto projects require the community to make reasonable input and contributions, from voting and governance to adoption and purchase. Many projects are almost exclusively pushed by community activity. This means that crypto projects always try to make innovative additions that appeal to the community they serve. This, in turn, cements the community’s loyalty and the project’s market dominance and longevity.

Big Eyes Coin (BIG), Chainlink (LINK), and Uniswap (UNI) are three massive and potentially profitable blockchains fully committed to community growth and support. They have ensured a steady community following by implementing attractive and innovative updates and adaptations to serve the community better and foster adoption.

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What is Big Eyes Coin (BIG)?

The Big Eyes Coin (BIG) project is an ecosystem that prioritizes community above all else. It is a fully community-driven DeFi protocol that has improved wealth creation, scalability, and asset security. These features propel Big Eyes Coin to a position where it could be one of the leading DeFi protocols shortly. Big Eyes Coin protects users’ interests and purchase decisions by harnessing leading DeFi solutions to build a self-propelled Blockchain that improves financial growth using DeFi and NFT technology to cater to fully and grant access to more content and services within the ecosystem.

The Impact of the Big Eyes Coin Community

Big Eyes Coin (BIG) has implemented various activities and ideas to foster community growth. These ideas push DeFi and Blockchain availability and access while harnessing this technology to improve the community and bring lasting change. The most notable feature is the Big Eyes Coin’s involvement with the Save the Oceans Campaign, a charity dedicated to protecting aquatic life and preserving fragile marine ecosystems. This campaign would significantly make the waters safe for both human and marine life and ensure food security for humans and animals. It would also do a lot to undo the damage caused by unchecked human activity.

Apart from this charity project, the Big Eyes ecosystem is developing a platform called the Big Eyes Swap. This platform would facilitate ease of transactions, exchange, and trading within the ecosystem. It would also feature the Big Eyes NFT; a collection of creative, beautiful, and valuable virtual assets that would funnel more wealth into the ecosystem and potentially create more profits for users who purchase and hodl or flip these assets.

Governance within the Big Eyes Coin (BIG) Ecosystem

As a community-driven protocol, Big Eyes Coin (BIG) utilizes the proof of stake consensus mechanism to validate transactions and implement changes. This means users can stake BIG tokens to earn voting privileges. Users can also delegate their privileges to other users. This makes the ecosystem run more smoothly, and it greatly improves scalability.

Big Eyes Coin Tokenomics and Distribution

The native token of the Big Eyes protocol, the Big Eyes Coin (BIG), is the utility and governance token within the ecosystem. With a max supply of 200 billion coins, It serves many purposes like paying trading fees, staking to earn governance privileges and staking rewards, liquidity provision, and access to the NFT collection.

With the coin set to launch pretty soon, the coin distribution has been arranged to go in this way:

90% of the coin would be available on launch day.
70% would go to the public presale event, while 20% would go to the exchange (Big Eyes Swap)
Of the remaining 10%, 5% would be delegated towards marketing initiatives, media campaigns, and programs. The rest of the coins would be donated to the charity for saving the oceans and protecting wildlife. Trading with Big Eyes Coin, users are promised zero fees, zero tax, and zero hassles.

Roadmap

The Big Eyes Coin roadmap is divided into 4 phases; Crouch, Leap, Run, and Catwalk. These 4 phases embody the mascot of the project, a wide-eyed cat. As a cat is devoted to grace and to groom, the Big Eyes Coin (BIG) ecosystem is committed to constant improvement within the ecosystem, as well as community growth and development.

Phase I: Crouch

Token audit
Presale website launch
Presale event
Media campaign

Phase II: Leap

Uniswap DEX launch
Blockchain bridge
Charity event
Influencer campaign
NFT sneak peek
Big Eyes swap launch
Merch distribution

Phase III: Run

NFT launch
NFT purchase event
Charity event
Influencer campaign

Phase IV: Catwalk

Community development
More cross-chain bridges
Charity event
NFT evolution

More information on the Big Eyes Coin (BIG) project is available on their website.

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Chainlink’s (LINK) Key Features

A major issue plaguing the crypto and Blockchain industry was how to source accurate and reliable data from off-chain sources to use within the Blockchain easily. Other methods proved to be time-consuming and unreliable. This led Sergei Nazarov and Steve Ellis, founders of smartcontract.com, to launch Chainlink (LINK) in 2017. Chainlink (LINK) is a decentralized Blockchain network that incentivizes data providers (Oracles) to source truthful, reliable, accurate, and timely data from off-chain sources to a blockchain.

Oracles are essentially software programs that act as a middleman or intermediary between smart contracts and the real world. Chainlink (LINK) is an ecosystem of oracles that provides useful data from outside the Blockchain to the Blockchain and vice versa to facilitate the access of smart contracts to real-world data. This data is essential for the execution of many smart contract commands.

How does Chainlink (LINK) work?

Chainlink (LINK) uses node operators (or stakers) to source information and regulate the oracle network. When a transaction is sent for validation, it is transcribed into a requesting contract which the smart contracts register as an event. The requesting contract is then sent to node operators, who are incentivized to be trustworthy by staking rewards and by the fact that they have their assets staked within the ecosystem.

These node operators then pass the requesting contract through three stages:

Reputation contract: this is a smart contract that validates the credibility of oracles by checking their activity log and history. Credible oracles are selected, and the transaction goes to the next phase.
Order matching contract: this contract sends requests to trusted nodes that have been vetted by the reputation contract and sorts through their bids.
Aggregating contract: this contract collates and validates data from single and multiple sources. It also settles disputes in data differences by simply choosing the data set provided by more nodes. Then an average is taken, which is adopted as the correct data.

With this simple process, Chainlink makes real-world data available on the Blockchain for smart contract execution.

Tokenomics

The native token of the Chainlink (LINK) ecosystem is the LINK coin. It is an Ethereum-based token that uses the proof-of-stake consensus mechanism. Within the ecosystem, the coin provides utility and governance. LINK is capped at a max supply of 1 billion tokens.

The LINK token is used to fund the project’s growth primarily. It is a deflationary token with a circulating supply of just over 464 million tokens.

Uniswap (UNI) – The Popular Cross-Chain Platform

As more and more Ethereum-based projects kept launching, there emerged a need for the facilitation of safe, timely, cost-effective, and secure transactions, exchange, and storage of these digital assets. This led to the creation of the Uniswap (UNI) exchange. Uniswap (UNI) is an Ethereum-based decentralized exchange platform that embodies true DeFi solutions to drive the safety and ease of crypto transactions. It was founded in 2018 by Hayden Adams and is a pioneer DEX platform running on the Ethereum Blockchain.

Uniswap (UNI) ensures the easy trading and exchange of Ethereum-based tokens and tokens built on other chains with the aid of smart contracts. It enables cross-chain communication with no additional costs to users.

The Uniswap DAO

Uniswap (UNI) is a solid community-driven project. This means that the protocol’s developers have the community as the top priority. Any major change to the Uniswap framework is made to serve the community better.

The Uniswap (UNI) Decentralized Autonomous Organisation (DAO) retains governance for the Uniswap ecosystem. It also serves to vote on changes, make suggestions, and submit proposals to the developers as to where the project should go. Governance of the Uniswap ecosystem is achieved through staking UNI tokens.

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The Uniswap (UNI) Token

The Uniswap token (UNI) is the native token of the Uniswap ecosystem. It primarily serves a governance purpose and is used by the Uniswap DAO to effect change within the ecosystem. The coin was initially airdropped to users who had previously used Uniswap to make token exchanges. Many users sold their coins shortly after, while some staked theirs for voting rights.

Uniswap has a strong liquidity pool powered by the strength and security of the Ethereum Blockchain. It is a project that has market dominance, as well as longevity.

By observing Uniswap (UNI), Big Eyes Coin (BIG), and Chainlink (LINK), it is clear to see that crypto projects are nothing without a community. These projects, especially the Big Eyes Coin, are particularly devoted to community development and strength and have the potential to create wealth and value within their community. You can also find out more information about the community and program here.

Here’s How Coinbase CEO Reacted On Uniswap’s Matching Its daily Trade Volume

July 19, 2022 by Lipika Deka

Coinbase CEO Brian Armstrong responded to a report by Clara Medalie showing that decentralized exchange Uniswap’s daily trade volume has risen up to match the levels of Coinbase.

As per the statistics provided by Kaiko’s research director, Uniswap’s daily trading volume surged by 22% since the beginning of the year and, in its values, is nearing the levels of one of the largest centralized crypto exchanges, Coinbase.

The data also showed the market share volume of decentralized protocol compared to Coinbase has increased from 27% to nearly 50%.

Armstrong tweeted that the report took only Coinbase’s centralized exchange into consideration and overlooked the fact that it also operates through different channels like wallets and DEXes.

“In other words, for the Uniswap portion of the graph, a bunch of those orders is coming through Coinbase! So the story is more complex”, the tweet read.

Acknowledging Uniswap’s tremendous growth, the chief exec reiterated that Coinbase loves DEXes and will continue integrating with them.

Here's How Coinbase CEO Reacted On Uniswap's Matching Its daily Trade Volume 14

Experts are of the view that the major surge has been due to Ethereum’s network transaction fees hitting the lowest since 2020.

In addition to that, the strong growth can also be attributed to DEXs providing liquidity for stablecoin swaps following the Terra blowup.

In the following thread, Kaiko expert Medalie also dived into Ethereum DEX market share, and found out Uniswap pretty much dominates the space about 80-90% of total daily volume.

However, the researcher observed DEX platforms so far occupy only a small share of the volumes of large centralized exchanges.

Coinbase & Co. Continue To Rule The Roost

For instance, the total share of the daily trading volume of all DEXes on the Ethereum blockchain comprises only 8% of the total share of CEXs like Binance, FTX, and Coinbase.

Meanwhile, the top crypto exchange, with over $2 billion in daily trading volume has recently decided to “temporarily shut down” its U.S. affiliate marketing program, according to Business Insider.

The development comes at a time when many web3 firms are exploring ways to cut costs amid a price slump in crypto assets.

The exchange reportedly plans on relaunching the program sometime in 2023 but did not provide any specific dates.

Uniswap Hackers Steal 4295 ETH Via Phishing Attack

July 12, 2022 by Lipika Deka

DeFi protocol Uniswap fell victim to an elaborate phishing campaign that targeted liquidity providers [LPs] resulting in a loss of 4295 ETH which comes close to $4.7 million.

Although the exact amount of stolen funds is not yet confirmed by the DEX, there are multiple reports by various experts detailing the incident.

Metamask security expert Henry Denley was the first to raise the red flag. According to him, about 73,399 addresses have received a malicious token under the false impression of a UNI airdrop.

The token if clicked directs them to a domain “/uniswaplp.com“, which imitates the real Uniswap branding. The website hosted by bad actors allows curious users to swap their new tokens for Uniswap [UNI], worth $5.34 each at the time of writing.

Uniswap Hackers Steal 4295 ETH Via Phishing Attack 17

The interface would instead send the users’ address and browser client info to the attackers’ command center, which would also attempt to drain cryptocurrency from their wallets.

“There is evidence that this campaign is purely targeting native coin [ETH, BNB] and Uniswap LP positions”, the tweet read.

Another crypto tracking platform tweeted that the attackers siphoned the stolen assets to Tornado Cash and put the funds at 7,500 ETH, nearly $8 million.

Uniswap Hackers Steal 4295 ETH Via Phishing Attack 18

Uniswap Hack – A phishing Attack On LPs Not A Exploit On The V3 Protocol

Binance CEO Changpeng “CZ” Zhao too tweeted the incident calling it a potential exploit of Uniswap V3 on the ETH blockchain. CZ later clarified that the exploit was actually a phishing attack and that the protocol is safe.

“The attack looks like a phishing attack. Both teams responded quickly. All good. Sorry for the alarm. Learn to protect yourself from phishing. Don’t click on links.”

However, there are rumors among the crypto community that the losses might be much higher than what is being reported.

Meanwhile, Uniswap’s price reacted by a sharp decline just moments after CZ’s initial tweet, falling by almost 14% in the 24-hour index.

UNI has since posted a marginal recovery to trade at $5.61 at press time. Still, the token is down by 86% from its previous peak of $42.

Ripple Reveals The “Secret Sauce” Behind Its New Uniswap-Rivalling DeFi Feature

July 5, 2022 by Lipika Deka

Ripple’s upcoming project is creating an Uniswap-rivalling Automated Market Maker [AMM] on the XRPL network.

Dubbed as the 0030 XLS-30d, as per a Github release, the proposal seeks to add AMM which is touted to bring enormous DeFi potential to the blockchain.

Typically a market maker helps provide liquidity for trading pairs on centralized exchanges.

But in DEXs, they do not support additional intermediate processes [order matching systems or custodial infrastructures]. Instead, these are replaced by autonomous protocols like AMMs where users can initiate trades directly from non-custodial wallets.

These protocols use smart contracts to define the price of digital assets and provide liquidity and are known as Liquidity Pools. Examples of AMMs include Uniswap, Balancer, and Curve.

As for AMMs, any entity can become a liquidity provider as long as it meets the requirements encoded into the smart contract.

To ensure the ratio of assets in liquidity pools remains balanced and to eliminate price discrepancies of pooled assets, AMMs use preset mathematical equations.

Uniswap and many other DeFi exchange protocols use a simple x*y=k equation

Where x represents the value of Asset A, y denotes the value of Asset B, and k is a constant.

During large orders in AMMs, a large number of tokens are removed or added to a pool, creating huge discrepancies between the asset’s price in the pool and its market price, thus providing an arbitrage opportunity.

Here the price difference allows a trader to buy and sell an asset in different markets to generate a profit.

Ripple’s team, however, noted that arbitrageurs generally wait for their profit to be more than the trading fees they would incur, which the former say reduces liquidity and slow price discovery.

The Special Factor That Would Set Ripple Apart

In order to increase liquidity and pool-supplier profits while allowing arbitrage to remain profitable, Ripple is considering geometric mean market makers [GM3] as a native XRPL feature.

According to the Github discussions, they are working on a function that would continuously auction off zero-fee trading slots for arbitrageurs and gives these earnings to liquidity providers, speeding up arbitrage because “there is no trading fee eating up potential profits”.

Proclaiming that XRPL AMM would be a ‘liquidity monster’, the expert stated that the proposal is still under discussion that needs to be first tested and voted through.

Uniswap Brings NFT Marketplace Genie Into Its Fold

June 22, 2022 by Lipika Deka

Leading DEX Uniswap has announced buying NFT marketplace aggregator Genie for an unspecified amount. The platform has now expanded its products to include both ERC-20s and NFTs. Further, the exchange published a blog and stated,

NFTs will be integrated into our products, starting with the Uniswap web app, where soon you’ll be able to buy and sell NFTs across all major marketplaces. We’ll also integrate NFTs into our developer APIs and widgets, making Uniswap a comprehensive platform for users and builders in web3.

The trading platform’s foray into NFTs began in 2019, as it launched Unisocks, the first instance of NFT liquidity pools, and of NFTs backed by real-world assets. Per the blog, the DEX revealed a USDC airdrop for historical Genie users.

“The airdrop will launch in August and be claimable for up to 12 months, based on a snapshot that has already been taken. Stay tuned for more details,” the blog read.

Uniswap Brings NFT Marketplace Genie Into Its Fold 20

The blog post ended with a disclaimer that the acquisition would not affect the Uniswap Protocol, Governance, or the UNI token. And that Genie users will continue to have uninterrupted service to its website until the new Uniswap NFT experience is available.

Following the integration, UNI’s price surged by 16% in just 6 hours. At the time of publication, the value stood at $4.84, up by 7% in the past 24 hours.

Uniswap Surpassed Ethereum in Terms of Daily Fees

Two days back, Uniswap overtook its home network, Ethereum. With $4.3 million in fees generated as of June 20, the world’s largest decentralized exchange [DEX] has jumped to the top of CryptoFees’ leaderboard.

Even though its holders don’t get a piece of the cash flows, which come from users paying a fee when swapping between digital assets.

Still, as one of the most recognizable DeFi players and other smart contract-enabled activities, it’s noteworthy that a protocol topped Ethereum, in terms of fee generation.

Above all, the lucrative fees have come during an extremely turbulent period for crypto and world markets at large. It is quite apparent by now, despite being a dismal year for digital asset prices, that the DeFi sector keeps on working.

Uniswap’s Cumulative Trading Volume Crosses $1T

May 25, 2022 by Lipika Deka

Decentralized exchange [DEX] Uniswap scored a new milestone passing $1 trillion in total trading volume as per the announcement posted on their official Twitter handle on May 24.

In a series of tweets that began saying, “It’s been one hell of a ride”, the protocol shared key points that helped towards reaching its $1 trillion mark.

Since its inception in 2018, the DEX claimed that it has onboarded millions of users to the world of DeFi, introduced fair, permissionless trading, and lowered the barrier to liquidity provision.

This month, the DEX’s number of cumulative addresses hit around 3.9 million this month after just over three years, data from Uniswap Labs revealed.

The Uniswap Labs team is a major contributor to the Protocol that focuses on building a suite of products to support the UNI ecosystem. The trading platform currently runs on Ethereum and layer-2 scaling solutions Polygon, Optimism, and Arbitrum.

Around mid-April, the creator behind the leading decentralized exchange protocol unveiled its own venture division to further its web3 ambitions. But the size of Ventures’ fund is been not made public yet.

Earlier this month, the team behind the project also revealed that the DEX’s v3 will be deployed to two EVM-compatible chains in Gnosis Chain and Polkadot-based para-chain Moonbeam Network, following successful governance proposals.

Uniswap leading the pack except for TVL and Price

With respect to trade volume, Uniswap is at the top position way ahead of its competitors in the DEX market. According to CoinGecko Data, the protocol’s V3 topped $938 million worth of volume in the past 24 hours, representing 33% of the total market share.

However in terms of Total Value Locked [TVL] ranking it fell to seventh place at $5.9 billion while PancakeSwap ranks seventh with $4.27 billion worth of TVL. MakerDAO [MKR] topped the charts sitting at $9.82 billion in TVL and Curve [CRV] in the second place at $9.16 billion.

On the price front too, the performance of its native token UNI has been disappointing. UNI went on a downward spiral depreciating by 87% from its previous all-time high of $44.9 back in early May 2021, to now a little above $5.

Uniswap Labs’ New Venture Arm To Fuel Its Web3 Ambitions

April 12, 2022 by Lipika Deka

Uniswap Labs, the creator behind the leading decentralized exchange protocol Uniswap has unveiled its own venture division. Announcing via Twitter, the new wing plans to onboard millions of users into the web3 economy, with the goal of unlocking universal ownership & exchange for all.

As stated in the announcement blog, the venture unit plans to inject capital at different stages and levels of the web3 stack, ranging from infrastructure to developer tools and consumer-facing applications.

In addition to that, the team behind the fund claims that it will actively participate in on and off-chain governance when relevant, collaborating with the communities that have formed around the protocols they invested in to support their evolution.

However, the size of Uniswap Labs Ventures’ fund is not yet disclosed but has appointed Teo Leibowitz to lead the Ventures division alongside Chief Operating Officer, MC Lader.

Prior to launching its venture arm, Uniswap Labs has invested in 11 startups and projects such as Tenderly, MakerDAO, Aave, Compound Protocol, PartyDAO, LayerZero, and the Ethereum developer platform.

Venture capital [VC] firms focused on Web3 projects and crypto businesses are accumulating billions of dollars worth of assets under management as more capital is injected into the sector. The news comes after several venture giants like Sequoia Capital and Bain Capital Ventures, both launched their respective crypto-dedicated funds, this year.

That said, Uniswap has joined a growing list of crypto-focused entities that have formally deployed resources to investing in other companies in the space, including crypto exchange FTX and DeFi protocol Cake, which both recently launched venture funds.

Uniswap Ventures is a big deal for DeFi and Web3- Expert

DEX like Uniswap, which already has experience building in web3, can apply their expertise and lessons learned to other facets of the crypto market through their early-stage investments, this is what DeFi researcher Ryan Rasmussen of Bitwise Asset Management wrote in a tweet.

The leading decentralized exchange is the fifth-largest in DeFi by Total Value Locked [TVL], a metric that represents the value of crypto assets deposited on the protocol, according to blockchain data provider DeFi Pulse. It had $7.04 billion in TVL, around half that of the leading DeFi platform, Maker, as of April 11, DeFi Pulse shows.

Altcoin roundup: Gauging Assets With Universal Short, Mid, and Long-Term Trading Losses

January 31, 2022 by Lipika Deka

Major altcoins followed the broader market correction for the last 11 weeks since Bitcoin’s all-time peak on November 10, 2020. Havings said that the prospects for long-term profits for the investors have been particularly difficult. But the past week the price movement of the altcoins has posted a mild recovery.

On-chain analytics platform Santiment in its report highlighted four top 150 crypto assets that it claims to have ‘good justification for buys, based on buying low while other traders are feeling the hurt’. Let’s delve into the observation.

First on the list is XRP – Market Cap Rank: 8

The report noted that it is quite unusual to see the 8th largest asset by market cap now -XRP slid after a multi-year stretch of being known as the largest crypto asset not named Bitcoin or Ethereum. ‘It was last in positive territory in mid-December, making it a solid candidate to have a price upswing to bring traders some relief’, the report added.

Second, on the analysis is Loopring [LRC] with a market cap Rank of 31

Loopring as per Santiment has already been in the midst of a nice-sized bounce compared to the rest of the altcoin pack over the past week. It is still in a ‘nice, deep negative average MVRV spot’, although if one saw the figures last week, it would have been at an all-time best opportunity level.

Altcoins -Opportunity and Danger zone

The Graph [GRT] Market Cap Rank of 54

The Graph according to the report is at all-time low MVRV levels now, a stark contrast from where things were looking about a year ago when traders were enjoying some hefty returns. Its average MVRV was last positive in late November.

Uniswap [UNI] – Market Cap Rank: 68

Lastly, Uniswap’s Average MVRV is also at all-time negative MVRV levels, and it seems to go below $10 again after breaking below this threshold last week, for the first time in over a year. With average trading returns already so low, though, the report added there’s a good possibility that there is no revisit.

Further, the report noted that an uptick in the general crypto markets may go very well for a mostly respected altcoin like UNI.

Uniswap Founder’s Bank Account gets Shut Down by JPMorgan

January 25, 2022 by Lipika Deka

On Jan 23, Uniswap creator Hayden Adams tweeted that JPMorgan Chase had closed his bank accounts with “no notice or explanation.” Adams then went on to add that he is aware of “many individuals and companies who have been similarly targeted simply for working in the crypto industry” ending the post with the caption, ‘thanks for making it personal.’

Brian Quintenz, former Commodity Futures Trading Commission [CFTC] Commissioner who now works as a advisory partner on the a16z crypto team, chimed in to denounce the act terming it as ‘shadow de-banking of crypto‘ adding that “if the examiner told a bank that a certain customer is too risky and the bank ended that relationship, the bank is contractually prevented from telling that customer why.”

“Likely a shadow de-banking of crypto by @federalreserve or @USOCC [Office of the Comptroller of the Currency] bank examiners, with direction from the top.”

Quintenz in order to emphasize his point cited a Wall Street Journal article by staunch crypto supporter, senator Cynthia Lummis. In it, Lummis accused the Federal Reserve of deliberately delaying as it’s yet to determine whether Wyoming’s special purpose depository institution or SPDIs are banks or not.

In response to Hayden’s tweet, there were several replies confirming that they too were blocked by banks or had accounts closed for dealings with crypto. Interestingly, Chase support responded to the Uniswap founder’s tweet, acknowledging the ‘less than ideal experience’ he had and asked the Uniswap CEO to contact their messaging system.

Is the latest incident of Uniswap CEO ‘s account closure a shady tactics adopted by banks ?

Expressing surprise, Democratic Candidate for Congress, Matt West, stated that ‘this is part of why we need clear regulatory framework in the US re: crypto and banks.‘ Having said that CEO of JPMorgan Jamie Damon last year called Bitcoin as worthless.