Ethereum

Uniswap

zkSync

<p class="is-style-lead">UNI, the native token of decentralized exchange (DEX) <a href="https://crypto.news/tag/uniswap/" rel="">Uniswap</a>, has surged 9% to become the top gainer in the crypto market today.</p> 
<p>At the time of writing, UNI has been trading at $10.69, which is up 8.5% over the past day. In the same timeframe, the crypto asset experienced a 31% drop in trading volume, suggesting existing holders might be holding onto their UNI tokens in expectation of a further price rise.</p> 
<figure class="wp-block-image size-large">
 <picture loading="lazy" decoding="async" class="wp-image-14279401"> 
  <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/06/UNI_1D_graph_coinmarketcap-1-1024x683.png.webp"> 
  <img loading="lazy" decoding="async" width="1024" height="683" src="https://crypto.news/app/uploads/2024/06/UNI_1D_graph_coinmarketcap-1-1024x683.png" alt="UNI price climbs 9% as Uniswap explores new layer-2 integration - 20"> 
 </picture> 
 <figcaption class="wp-element-caption">
  UNI 24-hour price chart | Source: CoinMarketCap
 </figcaption>
</figure> 
<p>Meanwhile, Uniswap’s market cap had risen to $6.4 billion, bringing the token to the 18th largest crypto asset asset per data from CoinMarketCap.</p> 
<p>The latest surge in price comes as the decentralized exchange shared a new enigmatic X post early on June 14 featuring the message: “Locked in. Ready for the Endgame.” The message was paired with an image of a man intently sitting forward in his chair, a meme used by gamers when things are getting serious.</p> 
<p>A following attached post from June 1 subsequently suggested that Uniswap v2 is gearing up to add support for a new Layer-2 blockchain.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/Uniswap/status/1801378844462747722 
 </div>
</figure> 
<p>Although the specific L2 protocol was not disclosed, speculation among the crypto community on X leans towards <a href="https://crypto.news/tag/zksync/" rel="">ZKsync</a>, a renowned trustless Layer 2 solution known for scalable, low-cost Ethereum transactions.</p> 
<p>Meanwhile, multiple members of the community also expressed discontent regarding the potential deployment on ZKsync.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Hey , don't support this scam project please .<br>You were one of the best projects that distributed a fairdrop and users were satisfied .<br>You know what we say and what we're going through . They scammed all the users for 4 years and just messed up these days .<a href="https://twitter.com/hashtag/zkscam?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#zkscam</a> <a href="https://twitter.com/hashtag/zksyncscam?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#zksyncscam</a></p>— behnamsasani (@BehnamSasani) <a href="https://twitter.com/BehnamSasani/status/1801404272497623523?ref_src=twsrc%5Etfw" target="_blank" rel="">June 14, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a href="https://crypto.news/zksync-faces-community-backlash-over-lack-of-anti-sybil-measures-in-zk-airdrop/" rel=""> zkSync faces community backlash over lack of anti-Sybil measures in ZK airdrop </a> </p> 
<p>Another potential cause for the recent price surge in UNI could be the impressive growth in L2 volume processed through the Uniswap Protocol, as highlighted in a June 13 X <a href="https://x.com/Uniswap/status/1801258820368253282" target="_blank" rel="">post </a>by Uniswap Labs.</p> 
<p>It took 22 months to hit the $100 billion mark, 10 months to reach $200 billion, and just 3 months to surpass $300 billion,’ the Uniswap team noted, showing data from analytics platform Dune. The exponential growth outlines the growing utility and adoption of Uniswap’s services in the defi space.</p> 
<p>Additionally, an X user with the pseudonym “Kyledoops” pointed out the rising popularity of Uniswap v2 pools on various L2 solutions like Optimism, Arbitrum, and Polygon.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Uniswap v2 pools are taking off on Layer 2 solutions like Optimism, Arbitrum, and Polygon. <br><br>This growth is fueled by the demand for scalability, lower fees, and a better user experience.<br><br>While <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">#Ethereum</a> still leads in decentralized finance (DeFi), these L2 networks deliver… <a href="https://t.co/4fHmy5y5NC" target="_blank" rel="">pic.twitter.com/4fHmy5y5NC</a></p>— Kyledoops (@kyledoops) <a href="https://twitter.com/kyledoops/status/1801293978643411121?ref_src=twsrc%5Etfw" target="_blank" rel="">June 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>These platforms are being favored for their promise of scalability, reduced transaction fees, and enhanced user experience, further contributing to the demand for Uniswap’s offerings.</p> 
<p>While Ethereum continues to lead in defi, the integration of L2 networks with Uniswap is evidently propelling quicker and more economical transactions, positioning these networks as strong contenders in the evolving crypto space.</p> 
<p> Read more: <a href="https://crypto.news/uniswap-v3-business-source-license-expires-developers-free-to-fork/" rel=""> Uniswap v3 business source license expires, developers free to fork </a> </p>

UNI price climbs 9% as Uniswap explores new layer-2 integration

crypto.news

Other articles published on Jun 14, 2024

PEDRO Price Surged Over 18% Intraday: Did The Sell-off Stop?

Crypto Market Faces Downward Trend Due to Key Factors

Bitcoin Plunges Below $66K: These Indicators Show If It's Time To Use The Escape Hatch

UwU Lend offers a $5M bounty to whoever catches its exploiter

The End of the Petrodollar? A Closer Look at the Future of Oil Settlements

Cardano and MultiversX Attend Launch Of Web3 Initiative In Geneva With Launch of Lightningbox

Join our free newsletter for daily crypto updates!