- Uniswap has taken the lead among altcoins as the price continues its uptrend.
- Uniswap price continues posting gains in the ongoing bull run.
- Analysts believe that the DeFi token is primed for a 20% price rally.
The world’s third-largest decentralized exchange has witnessed a spike in growth and market capitalization. Uniswap is leading the altcoin rally, gearing up for a 20% gain in price.
Uniswap price is ready for a 20% rally
Uniswap, one of the largest decentralized exchanges, has clocked in over $712 billion in trade volume in 2021. The exchange has witnessed a nearly ten times increase in market capitalization. With massive growth, experts have noted a spike in Uniswap on-chain activity.
Hayden Adams, the creator of Uniswap, believes that the decentralized exchange will,
Cross $1 trillion in cumulative volume with just its current 1-2m users.
Uniswap is leading altcoins in the ongoing bull run, posting over 25% gains over the past two weeks. The native token of the decentralized exchange has continued its uptrend since January 1, 2022.
Crypto intelligence platform IntoTheBlock observed a price rally in DeFi blue chips like Uniswap. According to crypto data platform Crypto Cap Flow data, there is a spike in open interest in Uniswap futures, hitting $102.89 million. Increasing open interest is considered a sign of rising investor interest and demand for Uniswap.
@BullishTraderss, a pseudonymous crypto analyst and trader, has predicted that Uniswap could preserve its uptrend; the next resistance for the token is at $23. Uniswap is looking to breakout resistance in the Bitcoin and USDT pairs.
$UNI
— Bullish Traders™ (@BullishTraderss) January 5, 2022
The $UNI Price Looking To Breakout The Resistances At Both Btc And Usdt Pairs ,New Impulsive Trend About To Start ,It’s a Nice Buy Opportunity By High R/R ,Targets On Charts pic.twitter.com/ABCLQwjZAP
FXStreet analysts have evaluated the Uniswap price trend and predicted that the native token of the decentralized exchange is close to starting a new uptrend towards $60.
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