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Uniswap Eyes Fantom Blockchain: Unlocking New Horizons In DeFi Expansion

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In a strategic move to expand its reach and maintain a competitive edge in the decentralized finance (DeFi) space, Uniswap, the popular decentralized exchange platform, is considering deployment on the Fantom blockchain. 

The proposal has been put forward by Blockchain at Columbia, the unit dedicated to distributed ledger technology at Columbia University, in collaboration with the Fantom and Axelar teams.

The motivation behind this proposal lies in the need for Uniswap to establish market share in other ecosystems following the expiry of the Uniswap v3 Business Source License (BSL). 

Other decentralized exchanges, such as Beethoven X, are eyeing the opportunity to capture market share on the Fantom chain. To stay ahead of the competition, Uniswap must swiftly establish its presence on Fantom.

Advantages Of Fantom For Uniswap Deployment

The deployment on Fantom would leverage the Axelar network, a decentralized interoperability platform that connects multiple blockchain ecosystems. This collaboration would offer a secure and robust bridge solution for Uniswap’s governance on Fantom. 

Axelar’s General Message Passing capability ensures complete composability across Web3, enabling developers to call functions on any connected chain.

Fantom’s compatibility with the Ethereum Virtual Machine (EVM) and its dedication to the Ethereum ecosystem make it an ideal choice for Uniswap’s deployment. 

Additionally, Fantom Chain’s lower transaction costs create a more affordable trading environment, encouraging active participation in DeFi protocols.

The proposed deployment also mitigates risks associated with network congestion, high gas fees, and potential vulnerabilities in the Ethereum network. By diversifying its blockchain infrastructure, the platform ensures long-term resilience and stability.

However, deployment on Fantom would position it as the leading DEX and blue-chip protocol in the ecosystem, capturing a substantial market share.

The Fantom Foundation and Axelar will handle the deployment and associated costs without grants or subsidies offered to Uniswap. While a cross-chain deployment method may be considered in the future, the urgency of this proposal necessitates the currently proposed deployment with Axelar.

If approved, this deployment would enable the platform to expand its user base, enhance performance, and drive innovation in the DeFi landscape. Additionally, it will enhance its performance and scalability, and mitigate risks associated with network congestion and high gas fees. 

Related Reading | Polygon zkEVM Developers Unite: Building A Strong Foundation For The Future

Ethereum Burning: April Sets New Records With 108,140 Burns, Uniswap Leads The Charge

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According to a research report by Coingecko, the latest findings reveal the protocol that burned the most Ethereum as of April 2023. Topping the list is Uniswap, which has remained the largest contributor to ETH burning, with a total of 29,333.8 ether burned thus far.

In terms of overall ETH burning, April 2023 witnessed a significant milestone, totaling 108,140 ETH burned. It marked the highest monthly figure since June 2022, when 122,074 Ethereum were burned.

It represents a notable 17.5% month-on-month (MoM) growth compared to March 2023, which recorded 92,057 ether burned. Furthermore, the first quarter of 2023 saw a remarkable 242,001 ETH burned, reflecting a substantial 50.9% quarter-on-quarter (QoQ) growth from the previous quarter.

The trend of Ethereum burning has displayed steady and consistent growth, with an average monthly growth rate of 4.1% over the past twelve months. Interestingly, the burning rate has surpassed the creation rate, indicating a net burn of 9,643 ether in April 2023, while 98,497 ether were minted.

image 86

 

This trend first emerged six months after the successful Merge upgrade, with October 2022 being the month when net burn turned positive, amounting to 4,765 ether.

Uniswap & XEN Dominate Ethereum Burning Scene

Uniswap, the leading protocol in ETH burning, witnessed a substantial increase in burned ETH. In April 2023 alone, Uniswap burned 21,479.9 ether, a 100% surge compared to March 2023, which saw 10,726.8 ETH burned. This increase can be attributed to the growing popularity of meme-coins being traded on the platform.

Following Uniswap, the protocol with the second-highest total burn was XEN, which burned 4,738.4 ether in April 2023. It represents a staggering 987% month-on-month growth, considering XEN burned only 435 ether in March 2023. The surge in burned ETH for XEN can be attributed to the resurgence in the token’s popularity.

Other notable protocols contributing to ETH burning include USDT, which burned 4,497.0 ETH, and Blur.io, which burned 2,452.2 ETH. The remaining protocols in the top eight burned less than 2,000 ETH each. MetaMask burned 1,982.8 ETH, followed by 1 inch with 1,484.6 ETH, USDC with 1,149.5 ETH, and OpenSea with 13.2 ETH.

The research report relied on data from Dune Analytics, covering the period from January 1, 2022, to April 30, 2023. The study examined the total Ethereum (ETH) minted and burned during this time. 

Additionally, the report highlighted the top nine methods responsible for burning the most ETH, which are ETH Transfers, Uniswap, XEN, USDT, Blur.io, MetaMask, 1inch, USDC, and OpenSea.

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Uniswap Expands To Polkadot Via Moonbeam: Boosting Volume & Liquidity

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Uniswap, the most popular decentralized exchange by daily traded volume, is coming to the Polkadot ecosystem via the Moonbeam parachain, according to a tweet from Polkadot. The move is expected to increase volume and liquidity across the ecosystem.

Uniswap provides users with a trustless, permissionless, and non-custodial way to access tokens. Its arrival in the Polkadot ecosystem is expected to add visibility and momentum toward developing a new world of decentralized financial products and services on Polkadot.

Omar ElAssar, Global Head of Growth & BD at ParityTech, said that Polkadot is a strong fit for Uniswap, whose users can discover the network’s high performance, scalability, security, and interoperability. Polkadot’s DeFi ecosystem benefits from a marquee name in the space.

Moonbeam is a layer-1 Polkadot parachain that provides full EVM compatibility and native interoperability and prioritizes secure cross-chain integration solutions. Over the last year, the network has seen impressive user growth.

The initiative to bring Uniswap, led by UMichBlockchain, successfully passed Moonbeam’s governance processes today following strong community support. Once live, all parachains will have immediate access to Uniswap.

“For UNI being a bluechip and always being at the forefront of DeFi innovation, we always intended to have Uniswap deployed on Polkadot in some way, shape, or form,” wrote a Uniswap spokesperson in an email.

The representative added that Moonbeam took the initiative in 2022 to approach the platform and allow them to run Uniswap V3 smart contracts on the parachain. 

The offer was accepted primarily for two reasons: Moonbeam currently has the highest DeFi activity, and the parachain architecture is “the most EVM-friendly in our ecosystem,” enabling Ethereum virtual deployments “as smooth and frictionless as any other EVM chain out there.”

Nevertheless, the integration of Uniswap via the Moonbeam parachain marks a significant step towards expanding the possibilities of decentralized finance. With its arrival, the platform aims to unlock new avenues for innovation and collaboration, further solidifying its position as a leading blockchain platform.

Polkadot Price Analysis

Following the latest announcement, DOT is currently showing bullish signs, as per the latest data from CoinMarketcap. The cryptocurrency is trading at $5.46, up by about 2% in the last 24 hours. However, the weekly chart recorded an increase of about 1.92%. 

DOT 1D graph coinmarketcap
Source: CoinMarketcap

In addition, DOT’s trading volume has witnessed an increase of 29.96%, reaching $117,035,511, in the last 24 hours, whereas the market capitalization has increased by 1.93% in the same time period. 

Related Reading | Coinbase Expands Service Offerings In Singapore To Boost Local Adoption

The Uniswap Frenzy: 85k Daily Users & Soaring ETH Gas Fees Amidst Memecoin Craze

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According to the token terminal, Uniswap has seen a surge in daily active users, with the numbers reaching a high of nearly 85,000. It is the highest recorded number since May 2021, and it is suspected that the recent popularity of Memecoins may be a contributing factor.

However, this surge in activity has resulted in a significant increase in the ETH GAS fee. The fee has broken through the 100 gwei mark several times and is currently at 40 gwei. This increase is mainly due to the high usage coming from Uniswap.

The rise in GAS fees is causing concern among traders and investors alike, as it increases the cost of transactions on the Ethereum network. However, it is also a sign of the growing popularity and usage of decentralized exchanges like Uniswap.

Uniswap has gained popularity among investors wishing to trade cryptocurrencies, including Memecoins. Its decentralized character, and easy-to-use interface make it a desirable substitute for conventional centralized exchanges.

However, the recent surge in demand has led to concerns about the scalability of decentralized exchanges and the strain it puts on the Ethereum network.

Despite the challenges posed by the recent surge in demand, Uniswap’s daily active users continue to climb, indicating that the popularity of Memecoins shows no signs of slowing down.

It remains to be seen how this surge in activity and fee rise will affect the market in the long term. Nonetheless, the demand for decentralized finance solutions is only going to increase as more users enter the space.

Uniswap (UNI) Price

Uniswap’s price analysis chart for the day indicates a continued decline following yesterday’s bearish trend takeover. Currently, the price has fallen to $5.74, with a loss of 2.80% in the past 24 hours and 9.52% over the week, according to CoinMarketcap.

UNI 7D graph coinmarketcap
CoinMarketcap

Further analysis shows slow momentum, with the price below MA at $6.12. Volatility decreasing, Bollinger bands show more bearishness, upper band at $6.40 and lower band at $5.72. The RSI indicator at 41.31 indicates potential sideways movement with buyers trying to regain control from bears.

image 78
Tradingview

It is anticipated that the price of Uniswap will reach $8.09 by the conclusion of 2023, reflecting a year-to-year increase of 57%. The projected rise from the current date to the end of the year is estimated to be 41%. Additionally, in the middle of 2023, the value of 1 Uniswap is expected to be $6.42.

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Conflux Network Paves The Way For DeFi Expansion With Uniswap V3 Integration

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Conflux Network’s blockchain protocol is making moves to expand its reach in the decentralized finance (DeFi) ecosystem. The protocol recently announced its plans to deploy Uniswap V3, a popular decentralized exchange, to bring massive liquidity to the DeFi space.

In a tweet thread, Conflux Network Official revealed that hat implementing Uniswap V3 could lead to the expansion of its user base by millions, specifically in the Asian and Chinese regions.

The move also benefits projects operating in currencies other than USD, especially Asian projects that can now utilize offshore Chinese Yuan for settlements without having to worry about currency fluctuations.

The market for blockchain applications is mostly controlled by China, which holds an 84% share, while the UK and the US only hold 11% and 14%, respectively. This information indicates that China’s flourishing ecosystem positions it as a crucial contributor to the development of Web3 projects.

Regulatory barriers in the US and EU are expected to fuel the crypto industry’s growth in Asia, with over 80 companies planning to open offices in Hong Kong due to its blockchain-friendly regulations, creating a vital connection to mainland China.

However, Conflux’s move to deploy Uniswap V3 is an exciting development that could further revolutionize the DeFi space. 

As blockchain-enabled innovations continue to change global commerce, it’s clear that Conflux Network is positioning itself to be at the forefront of this transformation.

Conflux (CFX) Price Analysis

However, this latest development did not impact the native token CFX within the network. Nevertheless, the token has been experiencing a bearish market trend and is currently trading in the negative zone on both daily and weekly charts. 

According to available data from CoinMarketcap, CFX is presently trading at $0.3753, having declined by 5% in the last 24 hours, and its price has gone down by 1.33% in the past seven days, as per the charts.

CFX 7D graph coinmarketcap
Source: CoinMarketcap

The price prediction for 2023 shows that the cryptocurrency may reach an average value of $0.78 and a max value of $0.83 by the end of 2023. 

Related Reading |  Uniswap Takes A Roll-Up: Proposes Upgrading v3 Protocol On Polygon’s zkEVM

Uniswap Takes A Roll-Up: Proposes Upgrading v3 Protocol On Polygon’s zkEVM

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Uniswap, which is a commonly used decentralized exchange, plans to introduce Polygon’s zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution. The aim is to implement Uniswap’s v3 protocol on the Polygon zkEVM platform, according to the latest governance proposal.

Polygon zkEVM is a recently developed zk-rollup that aims to ensure transparency in user experience and compatibility with the Ethereum ecosystem and its tools by providing Ethereum Virtual Machine (EVM) equivalence at the opcode level.

It is a method for enhancing Ethereum’s scalability on layer two that incorporates zero-knowledge cryptography to quickly validate and finalize off-chain transaction computations.

The deployment on Polygon zkEVM will help grow a large list of projects that can be built on Uniswap v3. Additionally, deploying early on zkEVM helps solidify Uniswap’s position as the number one DEX and a thought leader.

It is important to note that Uniswap has seen a significant community and user uptake on Polygon PoS, which makes the deployment on Polygon zkEVM a priority.

Polygon Labs, the leading platform for Ethereum scaling and infrastructure development, will deploy Uniswap’s protocol to the Polygon zkEVM on behalf of the community. 

The Polygon network is currently the most adopted scaling effort in the Ethereum ecosystem, with over 3,000 applications hosted, 1 billion transactions processed, 100 million unique user addresses, and approximately $5 billion in assets secured.

The deployment on zkEVM should pose minimal risks relative to deploying on alternate blockchains. As an Ethereum Layer 2, it uses zero-knowledge proofs to inherit Ethereum’s core safety while allowing developers to easily deploy existing EVM codebases. 

The bridge has been disintermediated, and the network can expect reputable Oracle providers to be available as data providers from day one. However, the network’s v3 deployment on Polygon zkEVM will help grow Uniswap’s Total Addressable Market across TVL, unique interacting wallets, volumes, and integration with partner dApps. 

This move also highlights the continued growth of Polygon as a leading platform for Ethereum scaling and infrastructure development.

Uniswap Mobile Wallet

The progress of the network is continuing at a steady pace. In addition to the recent deployment of its v3 on Polygon zkEVM, it was announced yesterday that Uniswap Labs has made its mobile wallet available for download on the iOS App Store in multiple regions. 

The Uniswap mobile wallet is an open-source, self-custody application that enables users to smoothly exchange tokens on Mainnet, Polygon, Arbitrum, and Optimism. 

The wallet also allows users to discover top tokens by market cap, price charts, volume, favorite tokens, and wallet addresses and connect to any application on Mainnet or L2s with WalletConnect.

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Uniswap Launches Mobile Wallet: Seamlessly Swap Tokens & Discover Top Coins On The Go

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Uniswap Labs, the company behind the popular DEX, Uniswap, has revealed that their mobile wallet is currently accessible for download on the iOS App Store in various regions. The news was shared on the company’s official Twitter account with the message “THIS IS NOT A DRILL.”

According to the blog post, the Uniswap mobile wallet is a self-custody, open-sourced app that allows users to seamlessly swap tokens on Mainnet, Polygon, Arbitrum, and Optimism. Users can also discover top tokens by market cap, price charts, volume, favorite tokens, and wallet addresses and connect to any app on Mainnet or L2s with WalletConnect.

In addition, the Uniswap mobile wallet allows users to see NFT details like floor price, owner, and collection description, choose their security method with manual or encrypted iCloud backups, and get notified of any on-chain activity with push notifications. Users can also buy crypto using fiat with fees as low as 2.55%, compared to 5% on other popular wallets.

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Source: Uniswap

Self-Custody Made Easy With Uniswap

The company emphasizes the importance of self-custody in DeFi, stating that a self-custodial wallet is necessary to do just about anything on-chain, including swap tokens, buying NFTs, purchasing crypto, or using apps. This mobile wallet aims to make self-custody simple, safe, and easy to use.

Security is a top priority for the company, so they engaged Trail of Bits to conduct a comprehensive security audit. Additionally, the code for their mobile wallet is open source, allowing users to examine it independently.

According to the company, a Uniswap mobile wallet is a simple process akin to setting up an email account. The wallet has gained regulatory approval in numerous nations around the globe, and the firm intends to expand its reach to additional countries once it receives clearance from Apple.

Users who have been granted early access to TestFlight can proceed to the iOS App Store and obtain the application. The data and wallets that were added to the TestFlight edition will seamlessly transfer over. 

However, Uniswap Labs encourages anyone interested in the mobile wallet to download it today and start trading tokens on the go.

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Cardano (ADA) and Uniswap (UNI) Join Collateral Network (COLT) for Massive Growth Projection From Experts

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Crypto markets have seen an uncertain start to the year, and it’s difficult to give accurate projections. However, experts are reaching a consensus on a few popular tokens. 

Collateral Network (COLT) is one of the most promising blockchain projects of 2023. It is currently in its presale, during which experts project a 35x return for investors. In addition, experts project massive returns for Cardano (ADA) and Uniswap (UNI). 

>>BUY COLT PRESALE TOKENS NOW<<

Cardano (ADA)

Cardano (ADA) is a decentralized blockchain platform focused on scalability, sustainability, and security. Its unique approach to consensus and its modular architecture made Cardano popular among investors.

One of the key benefits of Cardano is its focus on sustainability. Cardano achieves this through its proof-of-stake (PoS) consensus mechanism. Additionally, Cardano’s supports smart contracts and decentralized applications (dApps). This led to the development of numerous dApps and protocols on its platform.

Cardano’s rigorous approach to tech, as well as its strong founding team have won it a loyal following. The Cardano community is currently one of the most active in crypto. All these are signs that ADA will continue to outperform in the future.  

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Uniswap (UNI)

Uniswap (UNI) is a decentralized exchange (DEX) that operates on the Ethereum blockchain. Its unique approach to liquidity made Uniswap a popular choice for DeFi traders. 

One of the key benefits of Uniswap is its focus on facilitating peer-to-peer trading. By allowing trades without intermediaries, Uniswap gave traders a key advantage over centralized exchanges. 

Additionally, Uniswap’s supports automated market-making (AMM) and liquidity providers. These features also boosted its popularity in the DeFi space. 

With growing scrutiny of centralized exchanges, DeFi solution like Uniswap could become more popular. Uniswap is the biggest and the most advanced among them, meaning it will likely benefit the most. 

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Collateral Network (COLT)

Collateral Network is an upcoming decentralized crowdlending platform that caught the attention of traders. 

This innovative platform enables anyone to borrow money against their assets. This includes real estate, fine art, watches, fine wines, and collectables.  Collateral Network enables users to mint NFTs backed by these assets. They can then use these NFTs to access loans. That way, Collateral Network provides borrowers with a low-cost, quick and transparent way to obtain loans from their physical assets. 

For investors, Collateral Network creates opportunities to generate passive income with asset-backed NFTs. Investors can provide fractional loans to borrowers for an agreed fixed rate against NFTs on the platform with peace of mind knowing that the NFT is 100% backed by the real world asset. This is the first project to implement this technology and could revolutionize the crypto and lending industry.

By cutting out intermediaries, Collateral Network can offer better terms to both borrowers and lenders. Investors gain fixed income, and an opportunity to invest in tangible asset-backed NFTs.

Thanks to these features, analysts predict that Collateral Network could surge 3,500% during its presale phase. If Collateral Network manages to take a share of the growing alternative lending market, it could go even higher and become a top 10 cryptocurrency.

Find out more about the Collateral Network presale here:

Website: https://www.collateralnetwork.io/

Presale: https://app.collateralnetwork.io/register 

Telegram: https://t.me/collateralnwk

Twitter: https://twitter.com/Collateralnwk

Uniswap (UNI) and Cardano (ADA) Post Big Losses on the 30-day chart; Rally Takes Orbeon Protocol (ORBN) Price Up Over 2202% 

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In the turbulent cryptocurrency world, Uniswap (UNI) and Cardano (ADA) have experienced significant losses on the 30-day chart, with investors growing increasingly concerned about their prospects. However, amidst the market turmoil, a new player has emerged, rallying strong and capturing the crypto community’s attention. Orbeon Protocol (ORBN) has witnessed an astonishing 2202% price increase. Now in its eleventh presale round, the Orbeon Protocol (ORBN) token value has skyrocketed from a mere $0.004 to $0.0921, showcasing its potential to disrupt the market and make waves.

>>BUY ORBEON TOKENS HERE<<

Uniswap (UNI)

Uniswap (UNI) is the world’s biggest decentralized exchange (DEX), allowing users to trade cryptocurrencies without the intervention of a central authority. The whole trade occurs on Uniswap (UNI), an Ethereum-based suite of smart contracts.

Uniswap (UNI) is a market maker exchange that is automated. Traders on Uniswap (UNI) may pick from various token pairings, but Uniswap (UNI) has a slow rate of 100 transactions per second.

Uniswap (UNI) also suffers from relatively high transaction costs, which might make modest deals less desirable to consumers. These fees result from the Ethereum (ETH) network’s congestion, which increases trading costs and irritation. Uniswap (UNI) has fallen 4% in the last month, struggling for stability after falling 85% from its all-time high, indicating investor concern.

>>BUY ORBEON TOKENS HERE<<

Cardano (ADA)

Cardano (ADA) promises to address major challenges plaguing first and second-generation blockchains, including scalability, interoperability, and sustainability. Cardano (ADA) uses the proof-of-stake method to eliminate the need for energy-intensive mining and significantly minimizes the platform’s carbon footprint.

Cardano (ADA) has faced hurdles due to its usage of proof-of-stake, such as delayed development pace and mistrust about its long peer-review process, which some critics claim hampers innovation.

As a result, Cardano (ADA) has dropped 14.3%, approaching a 90% drop from its all-time high. This precipitous dip reflects weakening market trust and raises concerns about the prospects of Cardano (ADA).

>>BUY ORBEON TOKENS HERE<<

Orbeon Protocol (ORBN)

Orbeon Protocol (ORBN) is a ground-breaking investment platform that enables everyone to participate in promising enterprises at an early stage. Orbeon Protocol (ORBN) is upending the crowdfunding and venture capital industries since, thanks to Orbeon Protocol (ORBN), investment possibilities will no longer be limited to a few wealthy individuals.

Startups can utilize Orbeon Protocol (ORBN) and their NFTs-as-a-service (NFTaas) to mint NFTs backed by the company’s equity and give them to interested consumers in a fractionalized and hence cheaper form for as low as a dollar. Anybody on the Orbeon Protocol (ORBN) platform can now access startup investments.

Multiple safety protocols are in place for Orbeon Protocol (ORBN) users. Every smart contract on the platform is audited by Solid Proof. Moreover, suppose a company fails to meet its funding target during the fundraising cycle. In that case, all investors will be repaid owing to the Orbeon Protocol (ORBN) smart contract’s “Fill or Kill” functionality.

The price of Orbeon Protocol (ORBN), which is now in its eleventh round of presale, has rallied by 2202% from $0.004 to $0.0921. Analysts anticipate that if the Orbeon Protocol (ORBN) presale continues to sell out and hits highs of $0.24 after they launch on major exchanges, early investors could earn a 60x return.

Find Out More About The Orbeon Protocol Presale

Website: https://orbeonprotocol.com/

Presale: https://presale.orbeonprotocol.com/register 

BNB Coin Soars 8% With 100% Boost In Trading Volume As Uniswap Arrives On

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The BNB coin is causing a stir in the crypto market with a whopping 101% 24-hour trading volume and a 9% gain on the daily chart. This surge is due to the recent announcement that Uniswap is now officially live on the BNB Chain.

Screenshot 2023 03 17 015719 1

Yesterday, the coin hit a daily high of $330, which is quite impressive, considering it started the day at a low of $301.69. 

The last time the coin experienced such a high was at the beginning of February, almost a month ago. However, the coin has spent most of the summer trading below $400.

In January 2022, the coin’s price dropped to $371.37, but it rose to a high of $408.48 in March, only to fall to $360.30 on March 14th. It later climbed up to $459.81 on April 5th. 

Unfortunately, BNB experienced a sharp drop to $216.36 on May 12th due to the de-pegging of the UST stablecoin. It then rose to $336.67 on May 25th before dropping again.

Despite these ups and downs, the coin ended the year 2022 at $245.78 and began to recover from there. Year to date, BNB has gained about 33%, and it is currently trading at $329.66, with a significant 17% gain in the last seven days. 

Additionally, the coin’s market cap also increased by 7.73% over the previous 24 hours, according to data from CoinMarketCap.

BNB 1D graph coinmarketcap 1
Source: CoinMarketcap

The coin is currently facing key resistance at around $340, and if it manages to surpass it, it could experience further gains toward major resistance at $400. However, if it fails, it could drop to its support level of $289.

BNB Coin Price Driving Factor

Uniswap, the top-ranked decentralized exchange protocol by trading volume, has officially launched on BNB Chain after receiving 66% voter support. 

The deployment was proposed in February by 0x Plasma Labs, and with more than 55 million UNI token holders voting in favor, it was approved. 

The move to BNB Chain offers several significant advantages, including user growth, lower fees, and tapping into new geographical markets. 

Uniswap users can now leverage BNB Chain’s high speed and low transaction fees to trade and swap tokens across the network. 

The launch is expected to further fuel the growth of both Uniswap and BNB Chain as more users join the ecosystem to take advantage of the benefits DeFi offers.

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