{"id":535198,"date":"2023-05-26T19:00:19","date_gmt":"2023-05-26T19:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=535198"},"modified":"2023-05-26T19:01:09","modified_gmt":"2023-05-26T19:01:09","slug":"why-this-signal-means-uniswaps-bear-run-is-almost-over","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/uniswap\/why-this-signal-means-uniswaps-bear-run-is-almost-over\/","title":{"rendered":"Why This Signal Means Uniswap&#8217;s Bear Run Is Almost Over"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">The price of Uniswap, the largest decentralized exchange by trading volume, is down roughly 35% from Q1 2023 peaks. Even so, on-chain data from Etherscan <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/etherscan.io\/token\/0x1f9840a85d5af5bf1d1762f925bdaddc4201f984#balances\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">shows<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0that there has been a steady increase in the number of UNI holders in the past two days.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As of May 13, there were 369,646 UNI holders. Since then, the number has increased to over 370,100 as of May 26. During this time, UNI prices have remained stable but relatively high.<\/span><\/p>\n<figure style=\"width: 1225px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/BdcOvyWi\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/BdcOvyWi\/\" alt=\"Uniswap Price On May 6| Source: UNIUSDT On Binance, TradingView\" width=\"1225\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">Uniswap Price On May 6| Source: <a href=\"https:\/\/www.tradingview.com\/x\/BdcOvyWi\/\" target=\"_blank\" rel=\"noopener nofollow\">UNIUSDT On Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Based on the UNIUSDT chart, the prices have found support around $4.9. However, prices have increased by approximately 10% over the past two weeks, rising to $5.4. Although the number of UNI holders may not directly affect the prices, there is a clear correlation between the demand for UNI and the increase in token prices.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/toncoin-ton-continues-downward-trend-as-bears-maintain-control\/\" target=\"_blank\" rel=\"noopener \">Toncoin (TON) Continues Downward Trend As Bears Maintain Control<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Several factors could have provided tailwinds for UNI, the governance token of Uniswap.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Apple Jail Break<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">On May 23, Uniswap\u2019s mobile wallet was\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/apps.apple.com\/us\/app\/uniswap-wallet\/id6443944476\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">released<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0from what Uniswap Labs, the team maintaining Uniswap, said was \u201cApple jail.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">With this jailbreak, users can download the Uniswap Wallet, that\u2019s non-custodial like MetaMask.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Through this wallet, users can buy and sell various supported cryptocurrencies.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This announcement is bullish because as more users opt for Uniswap Wallet, the demand for the decentralized exchange could rise, increasing its dominance and stature.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While MetaMask remains the most dominant Ethereum and Ethereum Virtual Machine (EVM) wallet enabling the storing and trading of various tokens, even using processors like PayPal, the popularity of Uniswap could see Uniswap Wallet gnaw market share.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Presently, Uniswap Labs said their wallet could support the trading of tokens across Ethereum, Polygon, Optimism, and Arbitrum.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Uniswap To Launch On Base?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Earlier on, the Uniswap contributors\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/gov.uniswap.org\/t\/deploy-uniswap-v3-on-base\/21249\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">proposed<\/span><\/a><span data-preserver-spaces=\"true\"> the deployment of the DEX v3 on Coinbase\u2019s Base.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Among supporters of this proposal is GFX Labs, one of the largest UNI holders and supporters of Uniswap\u2019s expansion to other chains. Recently, GFX Labs voted for the launch of the DEX on BNB Smart Chain (BSC) and MoonBeam.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Even so, before voting starts, the proposal will undergo a \u201ctemperature check-up\u201d to gauge community support. If there is majority support, it will proceed to the next step.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Uniswap v3 is the latest iteration of the DEX, introducing the concept of concentrated liquidity for higher capital efficiency and more return on investment (ROI) for liquidity providers.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Base is a layer-2, open-source, and EVM-compatible platform by Coinbase, one of the largest cryptocurrency exchanges.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/jpmorgan-predicts-bitcoin-btc-to-revisit-45000-heres-why\/\" target=\"_blank\" rel=\"noopener \">JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here\u2019s Why<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">It is unclear whether the above-spurred demand for UNI, pushed the number of holders higher in the last week.\u00a0 <\/span><span data-preserver-spaces=\"true\">However, this could suggest that the project is generating interest, which may support future token prices.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature Image From Canva, Chart From TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The price of Uniswap, the largest decentralized exchange by trading volume, is down roughly 35% from Q1 2023 peaks. Even so, on-chain data from Etherscan shows\u00a0that there has been a steady increase in the number of UNI holders in the past two days. As of May 13, there were 369,646 UNI holders. Since then, the number has increased to over 370,100 as of May 26. During this time, UNI prices have remained stable but relatively high. Based on the UNIUSDT chart, the prices have found support around $4.9. However, prices have increased by approximately 10% over the past two weeks, rising to $5.4. Although the number of UNI holders may not directly affect the prices, there is a clear correlation between the demand for UNI and the increase in token prices. Related Reading: Toncoin (TON) Continues Downward Trend As Bears Maintain Control Several factors could have provided tailwinds for UNI, the governance token of Uniswap.\u00a0 Apple Jail Break On May 23, Uniswap\u2019s mobile wallet was\u00a0released\u00a0from what Uniswap Labs, the team maintaining Uniswap, said was \u201cApple jail.\u201d\u00a0 With this jailbreak, users can download the Uniswap Wallet, that\u2019s non-custodial like MetaMask.\u00a0 Through this wallet, users can buy and sell various supported cryptocurrencies.\u00a0 This announcement is bullish because as more users opt for Uniswap Wallet, the demand for the decentralized exchange could rise, increasing its dominance and stature.\u00a0 While MetaMask remains the most dominant Ethereum and Ethereum Virtual Machine (EVM) wallet enabling the storing and trading of various tokens, even using processors like PayPal, the popularity of Uniswap could see Uniswap Wallet gnaw market share.\u00a0 Presently, Uniswap Labs said their wallet could support the trading of tokens across Ethereum, Polygon, Optimism, and Arbitrum. Uniswap To Launch On Base? Earlier on, the Uniswap contributors\u00a0proposed the deployment of the DEX v3 on Coinbase\u2019s Base.\u00a0 Among supporters of this proposal is GFX Labs, one of the largest UNI holders and supporters of Uniswap\u2019s expansion to other chains. Recently, GFX Labs voted for the launch of the DEX on BNB Smart Chain (BSC) and MoonBeam.\u00a0 Even so, before voting starts, the proposal will undergo a \u201ctemperature check-up\u201d to gauge community support. If there is majority support, it will proceed to the next step. Uniswap v3 is the latest iteration of the DEX, introducing the concept of concentrated liquidity for higher capital efficiency and more return on investment (ROI) for liquidity providers.\u00a0 Base is a layer-2, open-source, and EVM-compatible platform by Coinbase, one of the largest cryptocurrency exchanges. Related Reading: JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here\u2019s Why It is unclear whether the above-spurred demand for UNI, pushed the number of holders higher in the last week.\u00a0 However, this could suggest that the project is generating interest, which may support future token prices. Feature Image From Canva, Chart From TradingView<\/p>\n","protected":false},"author":384,"featured_media":524981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83446],"tags":[215,87903,1393,54512,4189,82849,80532],"class_list":["post-535198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uniswap","tag-apple","tag-base","tag-coinbase","tag-defi","tag-trading","tag-uni","tag-uniswap"],"acf":[],"yoast_head":"\n<title>Why This Signal Means Uniswap&#039;s Bear Run Is Almost Over<\/title>\n<meta name=\"description\" content=\"Uniswap prices might be down double-digits from Q1 2023 highs but there are more UNI holders suggesting build up of demand.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. 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