{"id":565113,"date":"2024-12-13T04:00:28","date_gmt":"2024-12-13T04:00:28","guid":{"rendered":"https:\/\/wncen.com\/?p=565113"},"modified":"2024-12-12T18:37:12","modified_gmt":"2024-12-12T18:37:12","slug":"trader-joe-gem-outperform-uniswap","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/defi\/trader-joe-gem-outperform-uniswap\/","title":{"rendered":"Is Trader Joe (JOE) A Hidden Gem Poised to Outperform Uniswap (UNI)?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">In decentralized finance (DeFi) and trading, Uniswap has long reigned as a dominant force. However, a recent analysis by Lark Davis, a Bitcoin (BTC) investor, seems to suggest Trader Joe, a decentralized exchange (DEX) on Avalanche&#8211;a highly scalable blockchain and Ethereum&#8217;s competitor, could eventually emerge as a formidable competitor, even overtaking Uniswap.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Is Trader Joe Undervalued Relative To Uniswap?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In a post on X on December 12, Davis\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/twitter.com\/TheCryptoLark\/status\/31034826\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">noted<\/span><\/a><span data-preserver-spaces=\"true\"> a discrepancy in the relative valuation between JOE and UNI, which serve as governance tokens of Uniswap and Trader Joe. Specifically, the investors noted that Trader Joe&#8217;s handles around $300 million daily trading volume on <a href=\"https:\/\/wncen.com\/news\/avalanche-rules-top-10-ranking-with-61-weekly-gain-heres-the-scoop\/\" target=\"_blank\" rel=\"noopener \">Avalanche<\/a> alone. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On the other hand, Uniswap processes approximately $1.6 billion in daily volume across the Ethereum mainnet and Arbitrum, the largest layer-2 platform by total value locked (TVL) by Ethereum.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin-speed-bump-a-weeks-surge-crumbles-in-a-blink-of-20-minutes\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Speed Bump: A Week\u2019s Surge Crumbles In Just 20 Minutes<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Davis further noted that despite this &#8220;small&#8221; difference in trading volume, Trader Joe&#8217;s has a market capitalization of only $238 million. Meanwhile, Uniswap has a market cap of $3.6 billion, according to CoinMarketCap <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\">.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Even with relatively narrow average trading volume, the huge difference in market capitalization suggests that JOE is significantly undervalued relative to UNI. Accordingly, this gap will likely be narrowed in the future, with JOE appreciating versus UNI, possibly benefiting holders.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">JOE Yields Versus UNI&#8217;s Governance: Which Token Has An Edge?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Davis also pointed out JOE&#8217;s potential, saying the token rewards holders with USDC yields. This is different from UNI, where holders can vote on proposals and nothing else. In the investor&#8217;s preview, besides the undervaluation, this feature could further enhance JOE&#8217;s appeal, even contributing to its upside potential.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/cardano\/cardano-price-6000-to-33\/\" target=\"_blank\" rel=\"noopener \">Crypto Analyst Predicts Cardano Price Will Rise 6000% To $33, Here\u2019s The Timeline<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">As the crypto market recovers, Avalanche might also present additional advantages to traders and, therefore, Trader Joe. The modern blockchain is scalable and has relatively low fees regardless of network activity. With crypto prices expanding, Ethereum gas fees have been rising in tandem, discouraging mainnet transfers. This has rerouted activity to layer-2s like Arbitrum and competing platforms, including Avalanche.\u00a0<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/rS3dJkpb\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/rS3dJkpb\/\" alt=\"Trader Joe price trending upward on the daily chart | Source: JOEUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Trader Joe price trending upward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/rS3dJkpb\/\" target=\"_blank\" rel=\"noopener nofollow\">JOEUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">When writing on December 12, DeFiLlama\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/defillama.com\/protocol\/trader-joe\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">data<\/span><\/a><span data-preserver-spaces=\"true\"> shows that Trader Joe has a TVL of $149 million, of which most assets are tied to Avalanche. Only $1 million is on Ethereum. JOE has been on an uptrend, rising 170% from October 2023 lows. The token is cooling off, looking at price action on the daily chart.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In decentralized finance (DeFi) and trading, Uniswap has long reigned as a dominant force. However, a recent analysis by Lark Davis, a Bitcoin (BTC) investor, seems to suggest Trader Joe, a decentralized exchange (DEX) on Avalanche&#8211;a highly scalable blockchain and Ethereum&#8217;s competitor, could eventually emerge as a formidable competitor, even overtaking Uniswap. Is Trader Joe Undervalued Relative To Uniswap? In a post on X on December 12, Davis\u00a0noted a discrepancy in the relative valuation between JOE and UNI, which serve as governance tokens of Uniswap and Trader Joe. Specifically, the investors noted that Trader Joe&#8217;s handles around $300 million daily trading volume on Avalanche alone. On the other hand, Uniswap processes approximately $1.6 billion in daily volume across the Ethereum mainnet and Arbitrum, the largest layer-2 platform by total value locked (TVL) by Ethereum. Related Reading: Bitcoin Speed Bump: A Week\u2019s Surge Crumbles In Just 20 Minutes Davis further noted that despite this &#8220;small&#8221; difference in trading volume, Trader Joe&#8217;s has a market capitalization of only $238 million. Meanwhile, Uniswap has a market cap of $3.6 billion, according to CoinMarketCap data.\u00a0 Even with relatively narrow average trading volume, the huge difference in market capitalization suggests that JOE is significantly undervalued relative to UNI. Accordingly, this gap will likely be narrowed in the future, with JOE appreciating versus UNI, possibly benefiting holders. JOE Yields Versus UNI&#8217;s Governance: Which Token Has An Edge? Davis also pointed out JOE&#8217;s potential, saying the token rewards holders with USDC yields. This is different from UNI, where holders can vote on proposals and nothing else. In the investor&#8217;s preview, besides the undervaluation, this feature could further enhance JOE&#8217;s appeal, even contributing to its upside potential.\u00a0 Related Reading: Crypto Analyst Predicts Cardano Price Will Rise 6000% To $33, Here\u2019s The Timeline As the crypto market recovers, Avalanche might also present additional advantages to traders and, therefore, Trader Joe. The modern blockchain is scalable and has relatively low fees regardless of network activity. With crypto prices expanding, Ethereum gas fees have been rising in tandem, discouraging mainnet transfers. This has rerouted activity to layer-2s like Arbitrum and competing platforms, including Avalanche.\u00a0 When writing on December 12, DeFiLlama\u00a0data shows that Trader Joe has a TVL of $149 million, of which most assets are tied to Avalanche. Only $1 million is on Ethereum. JOE has been on an uptrend, rising 170% from October 2023 lows. The token is cooling off, looking at price action on the daily chart. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":565121,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83405],"tags":[9885,1946,90851,88357,88356,90850,82849,80532,87723,82852],"class_list":["post-565113","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-defi","tag-avalanche","tag-ethereum","tag-joe","tag-joeusdt","tag-trader-joe","tag-trader-joe-price","tag-uni","tag-uniswap","tag-uniswap-price","tag-uniusdt"],"acf":[],"yoast_head":"\n<title>Is Trader Joe (JOE) A Hidden Gem Poised to Outperform Uniswap (UNI)?<\/title>\n<meta name=\"description\" content=\"One investor thinks Trader Joe, a DEX on Avalanche, is an undervalued asset that could outperform Uniswap in the months ahead.\" \/>\n<meta name=\"robots\" content=\"index, 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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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