Uniswap Announces Major Upgrade, What’s Next for UNI?

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As a long-term crypto investor with years of experience in the market, I’ve seen my fair share of ups and downs. The recent announcement by Uniswap Labs about the upgrade to UniswapX has left me both excited and cautious. On one hand, the potential for increased quoting speeds, enhanced trade execution, and more MEV returned to swappers is a welcome development. On the other hand, I can’t ignore the current negative sentiment in the market, as evidenced by UNI’s recent decline in price.

Uniswap, a popular decentralized cryptocurrency exchange, has unveiled an upgrade for UniswapX, generating excitement among users. This update involves the implementation of a fresh auction contract which aims to revamp the quote display mechanism on the platform. At the moment, UNI is experiencing a downturn as pessimistic feelings permeate, influenced by prevailing market conditions.

Uniswap Labs Rolls Out Upgrade 

Uniswap Labs announced improvements to UniswapX with a fresh auction mechanism, revealing faster quote generation, superior trade execution, and greater returns of Miner Extractable Value (MEV) for swap users. According to the exchange’s X platform (previously Twitter), these updates will significantly enhance the overall user experience.

The web application of Uniswap now offers the upgrade, with the mobile version expected to follow shortly. Here’s the cost for UniswapX and its alternative variations.

Based on my extensive experience in the decentralized finance (DeFi) space and working with various automated market makers (AMMs), I would like to share some insights regarding the execution of swaps on UniswapX, Uniswap v2, and Uniswap v3.

As a crypto investor, I’ve noticed the community expressing optimism about the recent update despite growing concerns with the market. The increased whale activity surrounding the exchange token is a promising sign, suggesting potential price increases, although its current value hasn’t yet reflected this following a correction. This year, decentralized finance (DeFi) has gained significant traction in the market due to institutional involvement following Bitcoin ETF approvals. Consequently, we’ve witnessed impressive growth in assets under management (AUM) and trading volumes during Q1 2024, which have since stabilized.

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UNI Holders Eye Rebound 

At a price of $7.67, Uniswap experienced a 2.46% decrease in trading value over the last day due to sell-offs. This decline represents a 5.35% drop for the week and a more substantial 15.5% outflow over the past month. The top UNI seller on WazirX, who exploited the platform recently, further exacerbated the negative sentiment by offloading large quantities of UNI.

Despite some reservations, there’s optimism among users that the market will recover given past performance, updates, and institutional involvement. The trading of Ethereum ETFs in the US is poised to surge with the arrival of opportunities for conventional investors.

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2024-07-24 18:04