UNISWAP price, news and Forecast (UNI US DOLLAR)
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XRP battles selling pressure as profit-taking, ETF inflows shape outlook
Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year.
Crypto Today: Bitcoin, Ethereum, XRP pause uptrend amid mixed ETF flows, weak sentiment
Bitcoin extends correction below the $93,000 mark at the time of writing on Wednesday, signaling a cooldown from the early-year rally that touched $94,789 on Monday. Altcoins, including Ethereum and Ripple, are also facing headwinds amid uncertainty in market sentiment.
Zcash Price Prediction: ZEC falls as demand stagnates, retail sentiment weakens
Zcash remains under selling pressure, extending its second bearish week and trading below $500 with over 2% decline at press time on Wednesday. The privacy coin experiences a consolidation in user demand as shielding pools consolidate.
Bitcoin pulls below $92,000 as momentum cools near resistance
Bitcoin (BTC) slides below $92,000 at the time of writing on Wednesday after falling to close above the key resistance earlier this week. Institutional demand shows mixed sentiment with alternating inflows and outflows this week.
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Crypto Today: Bitcoin, Ethereum, XRP tilt toward breakout on risk-on sentiment
Bitcoin (BTC) kicked off October on a strong note, with the price breaking above $116,000 on Wednesday. Despite a market-wide expectation that September is usually a bearish month for cryptocurrencies, BTC posted gains of 5.31%.
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WHAT IS UNISWAP?
Uniswap is a decentralized exchange well positioned for community-led growth, development and self-sustainability. Its native token UNI serves the purpose of enabling shared community ownership and a vibrant, diverse and dedicated governance system, which will actively guide the protocol towards the future.
UNI officially enshrines Uniswap as publicly-owned and self-sustainable infrastructure while continuing to carefully protect its indestructible and autonomous qualities.
Characteristics of UNISWAP
Uniswap was launched with the idea of solving decentralized exchanges' liquidity problem.
- It is an Ethereum-based decentralized exchange that allows anyone to swap ERC20 tokens.
- UNI allows the exchange to swap tokens without relying on buyers and sellers creating that liquidity.
- Uniswap uses a pricing mechanism called the “Constant Product Market Maker Model.”
- Any token can be added to Uniswap by funding it with an equivalent value of ETH and the ERC20 token being traded.
Differences between Uniswap and Bitcoin
Which are the main differences between UNI and BTC?
- UNI is an ERC-20 token that powers the Uniswap platform.
- 1 billion UNI have been minted at genesis and will become accessible over the course of 4 years.
- A perpetual inflation rate of 2% per year will start after 4 years, ensuring continued participation and contribution to Uniswap at the expense of passive UNI holders.