{"id":196583,"date":"2021-03-08T05:45:34","date_gmt":"2021-03-08T02:45:34","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uni-surges-50-in-one-week-becomes-first-defi-dapp-token-in-cryptos-top-10\/"},"modified":"2021-03-08T05:45:34","modified_gmt":"2021-03-08T02:45:34","slug":"uni-surges-50-in-one-week-becomes-first-defi-dapp-token-in-cryptos-top-10","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uni-surges-50-in-one-week-becomes-first-defi-dapp-token-in-cryptos-top-10\/","title":{"rendered":"# UNI surges 50% in one week, becomes first DeFi DApp token in crypto\u2019s top 10"},"content":{"rendered":"

“# UNI surges 50% in one week, becomes first DeFi DApp<\/a> token in crypto\u2019s top 10 <\/strong>”<\/p>\n

The native token of leading decentralized exchange Uniswap has surged by nearly 50% this week, ranking UNI as the eighth-largest crypto asset with a $17.7 billion market cap as speculation builds for the exchange\u2019s coming V3 overhaul.<\/p>\n

Messari currently ranks<\/a> UNI as the -second-largest Ethereum-based asset by market cap behind Tether, beating out the Chainlink by nearly 50% of its capitalization.<\/p>\n

UNI broke into the top 10 on March 5, becoming the first native token of a DeFi DApp to hold the distinction. In 24 hours, UNI\u2019s capitalization increased from $8.8 billion<\/a> on March 4 to $14.7 billion<\/a>, according to CoinMarketCap\u2019s historic snapshots.<\/p>\n

The price of UNI is currently consolidating near yesterday\u2019s all-time high above $34, with the token last trading hands for $33.9.<\/p>\n

UNI\/USDT on Binance: TradingView<\/a><\/figcaption><\/figure>\n

Uniswap\u2019s initial token distribution saw UNI tokens airdropped proportionally to liquidity providers, in addition to 400 tokens being sent to every wallet that interacted with the DEX as of September 2020. As of this writing, 400 UNI are worth $13.560.<\/p>\n

UNI\u2019s entrance into crypto\u2019s top 10 follows a record month for trade volume on the exchange, with February hosting four consecutive records for weekly Uniswap trade \u2014 culminating in a monthly all-time high of $31.9 billion<\/a> in volume. <\/p>\n

However, Uniswap\u2019s streak of weekly volume records appears to have come to an end, with seven-day volume currently sitting at $6.4 billion<\/a> \u2014 down 25% when compared to last week\u2019s $8.6 billion. Despite the volume retracement, Uniswap still represents half of all trade on Ethereum-powered DEXes. <\/p>\n

UNI\u2019s surge also comes amid increasing speculation that Uniswap\u2019s V3 upgrade may not be too far away, with Yearn Finance developer Andre Cronje speculating on March 4 that a recent increase in social media<\/a> activity from Uniswap lead developer, Hayden Adams, could suggest the new version is coming soon:<\/p>\n

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When founders\/core contributors start posting more actively on Twitter, it normally means they finished a milestone and are waiting for the release, this is the “limbo time” where they don’t want to start something new yet. I’ve noticed @haydenzadams<\/a> post frequency increase <\/p>\n

\u2014 Andre Cronje (@AndreCronjeTech) March 4, 2021<\/a><\/p><\/blockquote>\n