The latest update on the UniswapX protocol is seen as the ultimate boost for the decentralized exchange. The new upgrade, released by Uniswap Labs, will streamline the flow of order quote information and speed up the whole auction process.
The execution of trades on the Uniswap exchange will become less time-consuming and easier.
The update is currently available on the website and will soon be unrolled on the mobile version of the platform. As per the concerned authorities, traders can now choose between UniswapX V2 or v3, whichever gives them the best price.
This update is expected to cause an increase in the price of UNI, the native token of the exchange. It is evident from the recent investment by crypto whales on the token.
Expectations by UNI Holders
The UNI holders are expecting high returns on their holdings in the aftermath of this upgrade. The technical upgrade is crucial as far as the current standing of the world’s popular decentralized exchange is concerned.
The investors expect that the update will bring back the price of the UNI tokens, which are currently trading at $7.19. The current price is down by 9.69% when the price of the last 7 days is concerned.
The negative sentiment associated with the tokens is expected to be solved after the upgrade is implemented.
Moreover, the recently launched Ethereum ETF and the success of the Bitcoin ETF are contributing factors to an expected price rise of UNI tokens.
The recent crypto whale activity around the UNI tokens can be viewed as an instance of renewed interest from large-scale investors in UNI tokens.
The bright future of the token also depends on the level of regulatory pressure exerted by the US Securities and Exchanges Commission (SEC) on the crypto industry in general and Uniswap exchange in particular.
Despite the current bearish sentiments of the UNI tokens, these developments will inspire a new life for the token and can result in a potential rise in its prices.
About UniswapX Protocol
UniswapX is a protocol that was created by revamping the existing Uniswap protocol and adding more features to it. UniswapX is
- Permissionless
- Open source
- Auction-based
UniswapX will power the following use cases in the future.
- It will offer better pricing to the UNI tokens by integrating the various sources of liquidity of the tokens.
- It will facilitate the swapping of UNI tokens without any transaction fees.
- It protects the token holders against the Maximal Extractable Value (MEV), which is the maximum possible value a miner can get for uploading a new block. That means the profit that a miner or validator or UNI tokens is unlimited.
- There will be no cost extracted from the users for failed transactions.
- UniswapX will also bring in gas fee-free swaps across different chains.
The Prospects of UNI Tokens in the Coming Years
The current status of the UNI tokens in the cryptocurrency market is given below.
Current Market Price of UNI coins: $7.19
Market Capitalization: $4,320,807,717
Fully Diluted Valuation: $7,198,172,268
Total Value Locked (TVL): $5,201,703,563
24 Hour Trading Volume: $136,298,155
Volume/Market Capitalization (24 hours): 3.12%
Circulating Supply: 600,034,295 UNI
Total Supply: 1,000,000,000 UNI
Maximum Supply: 1,000,000,000 UNI
However, the current data about the price prediction of UNI tokens for the second half of this decade is bleak. 23 technical analysis indicators are showing bearish signals against just 6 technical analysis indicators showing bullish trends.
The current price is 83.98% lower than the all-time high price of UNI tokens (The UNI tokens had an all-time price of $44.92 three years back on May 03, 2021).
As per the current estimation, the price of UNI tokens will rise by 385.41% in 2025 and 319.14% in 2030.
The new upgrade and its effect on the price of the UNI tokens will be known in due course. There are many favorable factors to stimulate price rise in the future.
Investors are advised to make investment decisions only after thoroughly considering the various factors of the price performance and on-chain development of the token.
