|

Uniswap price primed for 20% rally, leads altcoins in new bull run

  • 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. 

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. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.

Strategy scoops about $1 billion in Bitcoin for second consecutive week

Bitcoin (BTC) treasury and financial intelligence firm Strategy expanded its holdings following another round of weekly accumulation.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.