Will UNI, which is the highest in the price due to the release of Uniswap V3, drop?
According to CoinMarketCap, a cryptocurrency exchange on the 23rd, specific details about what Uniswap V3 will look like have been revealed little by little over the past few weeks, and UNI coin has gained a strong market.
Uniswap V3 was unveiled while decentralized exchanges pledged to implement various improvement measures to cover the surging fees of the Ethereum blockchain.
In a blog post, the platform announced that the Layer 1 Ethereum mainnet is scheduled to launch on May 5, and that Layer 2 will soon be deployed on Optimism. This second feature could prove a particularly dramatic improvement, which Uniswap hinted would lead to “significantly cheaper” transactions.
Other features will include’concentrated liquidity’, which “gives individual liquidity providers granular control over the price range to which capital is allocated”.
Several fee tiers are also set up so that liquidity providers “receive adequate compensation for taking different levels of risk.”
UNI Surges
Detailed information about what Uniswap V3 will look like has been releasing little by little in recent weeks, which has allowed UNI tokens to take on a soaring bull market.
At one time, UNI Coin hit an all-time high at $36.40 due to the fact that investors heard this news. It is currently at $30.29 at 9:32 am, down 8.55% from the previous 24 hours.
After a series of DeFi projects flock to Binance Smart Chain, the introduction of these rollups will help Ethereum regain momentum to some extent.
Ethereum co-founder Vitalik Buterin has also pledged to use the Optimism rollup as a network, and said it will allow the blockchain to scale up to 100x in a few weeks.