As Uniswap (UNI coin), which entered the market yesterday, continues to grow, what are the expert comments? UNI coin has already become one of the cryptocurrencies with the largest trading volume. Some experts suggest that this growth trend will continue and UNI will become one of the biggest cryptocurrencies over time.
Cryptocurrency investors have ‘massed’ a total of $ 1.37 billion worth of money into Uniswap. This makes Uniswap the largest platform in the $ 9.3 billion DeFi industry. Meanwhile, Uniswap (UNI coin) reached a market value of $ 318.7 million.
This may seem like a small number compared to multi-billion dollar coins like Bitcoin. But at this point, it should be reminded that Uniswap achieved a trade volume of 2.8 billion dollars. In this way, Uniswap surpassed crypto currencies such as Bitcoin Cash and XRP and became the fourth largest coin in terms of trade volume.
Developments for UNI Coin
Uniswap-based UNI Coin was listed on giant exchanges such as Binance, Huobi, and Coinbase Pro yesterday and earned its users thousands of dollars in the meantime. The UNI coin price, which dropped to $ 2.75 during the day, is currently at $ 5.39. There have been several developments that have made the UNI price soar again in the past few hours. It may be possible to list them as follows:
- In the announcement published 7 hours ago, Coinbase announced that users can make UNI transactions from the Coinbase home page, as well as iOS and Android applications.
- Uniswap users have processed so much that Ethereum miners have generated $ 1 million in transaction revenue within 1 hour.
- This increase in the number of transactions was reflected in the trade volume. Although Uniswap was just launched, it became the 4th coin with the largest volume with a volume of $ 2.8 billion.
- Uniswap’s trade volume has grown by more than 50% from yesterday to today and reached 577 million dollars. This is more than the volume of exchanges like Coinbase Pro, Bithumb, Kraken.
Future Comments for UNI Coin
Uniswap paid $ 1,000-1,500 to tens of thousands of people yesterday; A few lucky people made hundreds of thousands of dollars. Uniswap thus sat on the agenda of the industry. Cryptocurrency experts have already begun to interpret the future of this project and discuss whether the UNI will be successful.
There are many who say that using decentralized applications (DeFi) such as Uniswap can be risky. But in response to these, there are no names supporting these projects. Cole Kennelly, one of the well-known names of the DeFi world, said in his comment for the UNI coin that this token will continue to grow and over time it will become one of the top 3 cryptocurrencies in the market. Meanwhile, BitMEX CEO Arthur Hayes pointed out the developments on the Uniswap front and gave the message that he could switch to UNI.
Is the Model Followed by UNI Legal?
Investors who bought 400 UNI coins “airborne” yesterday, earned thousands of dollars thanks to this. But there have been people questioning the legality of this airdrop, in other words, this distribution model. Proof of Talent founder Rob Paone shared a humorous tweet saying that those who received free UNI were very pleased with it, while those who didn’t get UNI accused Uniswap of committing securities fraud.
This sparked a great debate in the cryptocurrency community. However, people are of the opinion that Uniswap is not committing any crime for now. Larry Cermak from The Block team; He shared a post on his Twitter account:
“If we’re talking about cryptocurrencies like XRP, yes; It is important whether they are securities or not. Because these cryptocurrencies do not have any use, investors will not be given a share of the company’s income, and the company uses this crypto money to cover their own expenses … Well, what if UNI is a security? People will continue to trade on Uniswap as Uniswap does not have a regulator to which it is affiliated… The only thing the US Securities and Exchange Commission (SEC) can do is to get UNI off the American stock market and maybe fines some organizations. It cannot do anything else either. “