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Ethereum-based DeFi, Uniswap’s 3rd Iteration Goes Live

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Popular decentralized exchange, Uniswap has announced the launch of its V3 deployment on the Ethereum mainnet. This highly anticipated and ambitious version of the protocol promises to let users more control over the liquidity they provide and feature more upside for riskier trades.

In short, the main objective of Uniswap v3 is to make the platform “the most flexible and efficient AMM ever designed.”

“Uniswap v3 is the most powerful version of the protocol yet, with Concentrated Liquidity offering unprecedented capital efficiency for liquidity providers, better execution for traders, and superior infrastructure at the heart of decentralized finance.”

What Does Uniswap v3 Entail?

This is what the third iteration of the decentralized finance [DeFi] protocol Uniswap involves:

Firstly, Uniswap has focused on concentrated liquidity which is any AMM’s basic functionality. The platform revealed that the liquidity providers [LP] will be able to concentrate their capital within custom price ranges, thus offering greater amounts of liquidity at desired prices. As a result, the LPs build individualized price curves that reflect their own preferences.

Secondly, the DEX platform is also introducing multiple fee tiers to enable investors to identify their risk levels while trading volatile assets.

Lastly, Uniiswap will be adding another crucial feature of the “easier and cheaper” oracle. This version will provide significant improvements to the already existing time-weighted average price [TWAP] oracles. These oracles act as a critical piece of DeFi infrastructure. Over the past couple of months, it has been integrated into dozens of projects. The V3 aims to ensure the calculation of any recent TWAP within the past ~9 days in a single on-chain call to mitigate the risk of erroneous data.

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Ethereum-based DeFi, Uniswap's 3rd Iteration Goes Live 2

Besides, it is a cut-throat competition in the realm of decentralized finance. Especially with the fast flourishing Binance Smart Chain’s projects, the space is heating up. Currently, Uniswap is the fourth-largest DeFi protocol on the Ethereum blockchain according to the latest stats by DeFi Pulse. On the 6th of May, it registered a $7.16 billion in terms of total value locked [TVL].

Uniswap [UNI] Fends Off The Bear As Bulls Assure Assistance

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The market cap of the crypto-verse was seen soaring over $2.10 trillion. Several coins like Uniswap [UNI] and Dogecoin [DOGE] navigated their way into the top ten. Both these coins emerged as prominent assets in terms of price as well as market cap. Amidst the emergence of these fairly new assets, Ethereum [ETH] decided to move up in terms of market cap. At press time, ETH’s market cap was noted at $319.65 billion.

Currently standing as the ninth-largest cryptocurrency, Uniswap’s market cap was recorded at $22.44 billion. At the time of writing, the altcoin’s price was at $42.83 with a 9.14% surge in the last 24-hours. The last couple of days were highly beneficial for UNI as it bagged gains of about 14.14% in the previous seven days. Earlier today, the altcoin even recorded an all-time high of $43.89. However, this trend did not persist as the coin endured retracement.

Uniswap [UNI] One-Hour Price Chart On Kraken

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Uniswap [UNI] Fends Off The Bear As Bulls Assure Assistance 5

The short-term price chart seemed to be in sync with the ongoing trend in the crypto market. The Bollinger Bands indicator suggested limited volatility as the bands were converging as opposed to diverging. The Awesome Oscillator indicator formed a green closing bar after several red closing bars over the last couple of hours. This further indicated the presence of the bulls in the UNI market.

Furthermore, the Relative Strength Index indicator noted that there were no major buying or selling activities in the UNI market was the marker was by the 50 median.

Uniswap [UNI] One-Day Price Chart On Kraken

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Uniswap [UNI] Fends Off The Bear As Bulls Assure Assistance 6

The one-day price chart went on to mirror the short-term chart of UNI as it was harboring the bulls. The MACD line took over the signal line further forming a bullish crossover. The Klinger Oscillator followed suit and also formed a bullish crossover. The Money Flow Index indicator noted a little over the 50 median indicating dainty buyers’ sentiment.

This notion further suggested that UNI entailed chances of hitting $50.

Uniswap [UNI] Garners Maximum Gains While Bears Haunt The Crypto Market

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Uniswap [UNI] was taking another route as most of the coins in the crypto market were seen walking downhill. Bitcoin [BTC], Binance Coin [BNB], XRP, and several other cryptocurrencies were seen in the red zone. While several speculated that BTC could persist this downfall, a few others noted that this was nothing but a mere setback. Additionally, Dogecoin [DOGE] was experiencing a massive drop after its recent surge.

The overall market cap of the crypto-verse had staggered to a low of $2.02 trillion.

Furthermore, Uniswap, Ethereum [ETH], and Litecoin [LTC] were the only assets that were bagging gains amidst the bearish notion that had struck the market. UNI navigated its way into the top ten as its market cap soared to $19.50 billion. The asset stands currently stands as the ninth-largest coin. The altcoin was trading for $37.25 with a 16.20% surge in the last 24-hours.

Uniswap [UNI] Four-Hour Price Chart On Binance

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Uniswap [UNI] Garners Maximum Gains While Bears Haunt The Crypto Market 9

The four-hour price chart of UNI was hoarding the bulls. The Bollinger Bands indicator suggested an increase in volatility as the bands were wide apart. This possible surge in volatility could be beneficial for the altcoin considering the presence of bulls in the UNI market. The MACD line remained over the signal line heading in for a bullish crossover. The Money Flow Index indicator was noted in the buyers’ zone.

This further suggested that the altcoin could prolong its existing uptrend.

Uniswap [UNI] One-Day Price Chart On Binance

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Uniswap [UNI] Garners Maximum Gains While Bears Haunt The Crypto Market 10

A mixed predilection was seen in the one-day price chart of UNI. The Awesome Oscillator indicator laid out red closing bars suggesting a bearish momentum. The Chaikin Money Flow indicator, however, remained over in the bullish area. Even though the altcoin resided in the bearish arena throughout the first two weeks of April, UNI recorded a reversal of the trend.

Furthermore, UNI also followed the footsteps of the short-term price chart. The asset was noted asserting a buyers’ sentiment as per the Relative Strength Index indicator.

Uniswap’s [UNI] Bullish Advances Halts After Soaring Above $38

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Uniswap [UNI] has continued to steal the show and has breached yet another record milestone close to $38 as it soared above the previous yearly resistance at $36.83 before undergoing a minor pullback.

The crypto-asset’s swing to an all time high was accompanied by the high volatility triggering high volume after consolidating days after above $30.

Uniswap [UNI] rose by 9.34% over the past 24-hours which drove its price to $35.02. At the time of writing, the DeFi token registered a market cap of $18,29 billion and a 24-hour trading volume of $2.35 billion.

Uniswap [UNI] Daily Price Chart:

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Uniswap's [UNI] Bullish Advances Halts After Soaring Above $38 13

Uniswap was strongly bullish. The already upsloping 50 DMA [Pink] rose closer to the UNI candles following the market-wide correction in the second week of March after attaining highs above $36. Soon after this, the digital asset declined subsequently to enter consolidation before making a strong bullish bounce up to fresh all-time highs. The price of the DeFi token has now surged well above the moving average depicting a rising bullish sentiment in the market.

Meanwhile, the 100 DMA [Blue] continued to remain the 50 DMA as well as the UNI candles.

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Uniswap's [UNI] Bullish Advances Halts After Soaring Above $38 14

Despite a low volume, the closing green bars of Awesome Oscillator depicted a return in the bullish momentum. The MACD also underwent a bullish crossover indicating a momentum that favored the buyers along with high volatility.

The RSI, on the other hand, turned down before reaching the overbought zone and was now found a little over the 61-mark. This indicated that the market has not exhausted the bullish trend yet and there is still room left to march up towards uncharted territory as the sentiment of buying pressure remained undeterred in the UNI market.

As observed from the above charts, the $36.6 is a short-term resistance level of significance before Uniswap climbs to higher levels in the near future. The 50 DMA acted as a strong protective barrier against the downside near $30 level. Other points of support were found at $26.4 and $22.25 respectively.

DeFi TVL Exceeds $50 Billion As Compound Climbs New Record

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Several prominent Ethereum-driven DeFi protocols have posted a strong bullish move as a new week dawned. This was accompanied by the total value locked across all decentralized finance protocols has hit another milestone.

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DeFi TVL Exceeds $50 Billion As Compound Climbs New Record 16

According to the latest stats compiled by DeFi Pulse, the TVL in DeFi blasted past a whopping $50 billion on the 5th of April after a renewed market push. With this, the TVL figure was currently found to be almost twice the capitalization of the third-largest crypto-asset, Binance Coin [BNB]. Since the February pullback, the total value locked in decentralized finance protocols has maintained a steady uptrend.

Side by side, the rising TVL was the increase in the token price of many of the top protocols as DeFi traders began stacking during the market lows even as the decentralized finance sector took a break from the spotlight, as opposed to 2020 summer when it was in all rage.

Ethereum Locked Hits ATH Too

As the price of Ethereum established a much-anticipated peak, the cryptocurrency locked in DeFi also surged to a fresh high of 10.78 million ETH. This amount of Ether accounts for roughly 10% of the altcoin’s total circulating supply.

Leading the chart was the decentralized lending protocol, Compound, which recently climbed all the way to $15 billion in terms of the total lending value. As it dominated the decentralized finance market, it contributed to roughly 19% of the value locked up. Next up was another lending platform, Maker with $7.73 billion and DEX platform Uniswap with over $5 billion.

Bitcoin Locked In DeFi Attempts Recovery

The world’s largest cryptocurrency has stalled its momentum around $59K. Despite weeks of consolidating, Bitcoin has failed to establish a record with respect to its value. Alongside, the dull price action, Bitcoin locked up in all decentralized finance projects recently took a tumble to a three-month low.

Its recovery to the current figure of around 138K BTC was not impressive.

Uniswap [UNI] Tilts In Favor Of Bulls; Eyes $34-Hurdle

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Uniswap [UNI] became the first token to first decentralized finance [DeFi token to enter the list of top 10 cryptocurrencies by market cap. While retaining its fort, the token has managed to rake in profits of nearly 12% over the past week.

The DeFi token was found to be consolidating below the crucial level of resistance as volatility took a plunge. Despite this, the technicals favored the bulls eyeing to recover the lost gains.

At the time of writing, Uniswap [UNI] was currently exchanging hands at $31.24 as it held a market cap of $16.31 billion. Over the last 24-hours, it was down by 1.92% after recording a trading volume of $608.2 million over the same period.

Uniswap [UNI] Daily Price Chart:

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Uniswap [UNI] Tilts In Favor Of Bulls; Eyes $34-Hurdle 19

Uniswap [UNI] has maintained a steady upward trend after faltering in mid-March and testing support below $30-mark. During this time, the UNI bulls faced the upward sloping 50 DMA [Pink] which attempted to move over the UNI candles. However, the renewed bullish push ensured that the candlestick arrangements hovered above the moving average.

The 100 DMA [Blue], on the other hand, continued to float well below the 50 DMA depicting bullish presence in the market.

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Uniswap [UNI] Tilts In Favor Of Bulls; Eyes $34-Hurdle 20

The formation of small green closing bars of the Awesome Oscillator depicted a subtle rise in bullish momentum for Uniswap’s price.

Despite low volatility, the buying demand was slowly building up. This was depicted by the MACD which also appeared to be heading for a bullish crossover nearly three weeks of stint with the bears. In addition, the RSI above the 54-mark indicated a sentiment of growing buying pressure from the investors in the UNI market.

The moving averages had failed to sink the price of Uniswap lower as it continued to clench steady gains. If the bulls succeed in pushing the DeFi token higher, target points that could be breached are $32.9, and $34.2 respectively. Support points for the token, on the other hand, were found to be at $27.9 and $22.4 respectively.

Uniswap Calls Massive Trade Volumes ‘Not Real’; Delta Hits Back

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Uniswap’s phenomenal growth over the short span of time has been lauded by market players and DeFi experts alike. It has emerged as one of the world’s largest decentralized exchange [DEX] sweeping significant volume in the market. However, the trading volume recorded on the 30th March on Uniswap was much higher than normal.

So what exactly happened on Uniswap?

It was DeFi protocol, Delta Financial’s native token, DELTA that was responsible for the brief and fake volumes on Uniswap. The token recorded a trading volume of more than $6.13 billion, meaning, it contributed to roughly 85% of the total volume on the DEX even as the liquidity stood at a little more than $16 million.

Delta is a newbie in the world of DeFi and identifies itself as on-chain options layer which uses a combination of liquidity standards to minimize premiums and provide competitive options price. In short, it essentially aims to solve the problem of expensive and volatile options trading especially due to lack of liquidity.

The large trading volume figures were due to Delta’s liquidity rebasing system. This is essentially an algorithmic mechanism of increasing the price to mint tokens over time. While this seemed similar to that of wash trading, since it requires swapping tokens back and forth in order to trigger high volume and price of a token, the inventor of Uniswap Protocol, Hayden Adams, clarified that while it is not wash trading, it also does not represent “real” volume either.

He also went on to say that the figures will soon be considered untracked volume on Uniswap.

Adams also stated that the current Delta stats will not influence Uniswap’s global trading volume and added that Delta’s strange protocols are the reasons behind the exploding figures.

Delta Financial has hit back with the following tweet:

“All DELTA data is completely frozen, as if trading is not happening at all. To top it off an engineer wrote ‘Scammy Token’ in the PR. Meanwhile, the volume is still misreported on all other tokens.”

Uniswap [UNII] Endures A Steep Fall After Recording An ATH Of $36

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A reversal of trend was noted in the crypto market. However, coins like Uniswap [UNI] and XRP continued walking downhill. But all the other assets were seen on an uptrend. Bitcoin [BTC] was trying to find a way back over $60K. Binance coin [BNB], as well as Tether [USDT], were still fighting for a spot as the third-largest cryptocurrency. Additionally, the overall market cap of the crypto industry was recorded at $1.76 trillion.

Uniswap [UNI] found a way back into the top ten. At the time of writing, UNI was spotted in the eighth position. The market cap of the altcoin was $16.26 billion. The price of the asset was seen in the red sea. During press time, UNI was trading for $31.56 with a 4.80% drop in the last 24-hours.

Uniswap [UNI] One-Hour Price Chart

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Uniswap [UNII] Endures A Steep Fall After Recording An ATH Of $36 23

Strong bullish sentiment was found in UNI’s short-term price chart. On the one-hour price chart of UNI, the Bollinger Bands indicator was going in for a convergence. The bands were wide apart all these days indicating an increase in volatility. However, UNI at present was getting closer further intimating poor volatility. The Awesome Oscillator indicator laid out green closing bars suggesting bullish momentum.

The Relative Strength Index indicator was down below the sellers’ zone exhibiting a sellers’ market despite the presence of the bulls.

Uniswap [UNI] One-Day Price Chart

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Uniswap [UNII] Endures A Steep Fall After Recording An ATH Of $36 24

The one-day price chart of UNI had bears residing in its market. The MACD line slumped below the signal line. This further pointed out that the bears had made an entry during the middle of the month. This bearish crossover was further mirrored by the Klinger Oscillator. The Money Flow Index was also in the sellers’ arena, similar to the one-hour price chart of UNI.

Just yesterday, UNI hit an all-time high of $36.41, however, the bears seemed to have pushed the altcoin back below $35.

Uniswap Reigns As Collective DEX Liquidity Soars To $10 Billion

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Decentralized exchange or DEXs are growing like never before. While Uniswap remained the undisputed leader.

The world of decentralized finance [DeFi] has consistently proliferated in prominence over the past year owing to a large part to the strong foundations established by decentralized exchanges [DEX]. These platforms have achieved a critical milestone. In the month of February, the collective DEX liquidity raked in a fresh high of a whopping $10 billion.

This was revealed by Researcher Rahul Rai on Messari’s latest edition. The Co-founder and Partner of Gamma Capital revealed that DEXs have surged to $72 billion in volume this February. Despite the rising numbers, automated market makers or AMMs have their own fair share of problems such as impermanent loss [IL], capital efficiency, slippage, gas costs, speed, and multi-token exposure that have caused impediments.

Nevertheless, over the last 24-hours alone, DEX volume was found to be at $1.56 billion. In addition, the figure was up by 18%.

DEX Market Share

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Uniswap Reigns As Collective DEX Liquidity Soars To $10 Billion 26

Uniswap remains unbeaten as it accrued more than half of the total liquidity locked up in decentralized exchanges with a total value locked [TVL] of $5.4 billion. Despite its humble beginnings, Uniswap comprises an astonishing 63% of the total DEX volume. It currently accommodated approximately $6.5 billion worth of weekly trade.

TWJ had previously reported that Uniswap held a market share of 48% in January. According to the charts compiled by Dune Analytics, the dominance over the Ethereum-powered decentralized exchange realm was found to have been growing at a rapid pace

Following its trail was its controversial clone platform, SushiSwap whose market share was found to be a little over 14% with a volume of $1.55 billion.

Number of traders on Uniswap stood at 190,873 while that of SushiSwap stood at 10,698, at the time of writing.

In terms of market share, Curve, in the third spot, and 0x Native, in the fourth, were the next in line with a market share of 6.6%, and 5.3%, and weekly trade volume of $686 million and $552 million respectively.

Uniswap’s [UNI] Price Risks A Fall Near $25

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Uniswap [UNI] has managed to hold on to the position as the largest DeFi token on the leaderboard. Not just that, UNI has also maintained its spot as the 8th-largest cryptocurrency by market cap, despite amassing a weekly loss of nearly 9%.

After a massive run-up last week, the bulls were attempting to push the tokens’ price back toward several key support points. Several coins along with UNI appeared to have been losing their bullish momentum.

On the 15th of March, the UNI token witnessed fresh losses of 6.48% over the last 24-hours which drove its price all the way to $30.35. It recorded a market cap of $15.8 billion and a 24-hour trading volume of $588.6 million, at the time of writing.

Uniswap [UNI] Daily Chart:

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Uniswap's [UNI] Price Risks A Fall Near $25 29

Uniswap [UNI] has been oscillating between the trendlines of a rising wedge for almost three weeks now. As per convention, the pattern formation is bearish and generally follows a breakout to the negative side. Hence, if a bearish breakout, indeed, transpires, UNI could further drop down from its recently hit peak.

The moving averages, however, remained unfazed, as they continued to hover well below the candlestick arrangement. The 50 DMA [Pink] continued to float above the 100 DMA [Blue] depicting a bullish presence despite the plunge.

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Uniswap's [UNI] Price Risks A Fall Near $25 30

The red closing bars of the Awesome Oscillator depicted a shift towards bearish momentum as Uniswap’s price took a hit. The MACD also sustained a bearish crossover shortly thereafter consistent with the price action suggesting the investors were fiercely selling the local tops.

Despite the buying demand taking a plunge, the RSI, on the other hand, continued to remain above the 50-median line which has acted as a crucial level of support. Notably, UNI has managed to stay afloat above this level of RSI since January and is showing no signs of backing down anytime soon.

While Bitcoin and other top altcoins were hit hard by the latest market-wide crash, selling pressure is yet to intensify for UNI. The DeFi token’s buying demand has decreased but was still above a crucial support.

If the bulls succeed, Uniswap could start the next leg of the uptrend that may reach its nearest resistance of $34.26 and mark new heights. However, if the price breaks below the rising pattern, UNI could witness a slew of connections before testing support at $25.9, $22.2 respectively.