[Taklimakan Blog] Speculators Profited from the Launch of the Third Version of the Uniswap Protocol

Speculators capitalized on the hype around the third version of the famous Uniswap protocol, but the success was short-lived

A couple of days before the launch of Uniswap V3, market speculators began to catch up with information noise. At least this is the conclusion reached by Santiment analysis. Against this background, the UNI rate, the native token of the Uniswap protocol, over the week, the UNI price increased from $30 to $44.

However, as soon as it became clear that the new version of Uniswap did not live up to expectations due to high fees and difficult use, the UNI price quickly returned to the $37 level. Despite the pullback, UNI is still holding the above key support. Experts explain this by expectations around the renewal of commissions in the protocol, which is scheduled for mid-May.

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Anatole Strum

Pop culture fanatic. Hardcore coffee junkie. Food ninja. Bacon expert. Hipster-friendly introvert. Crypto expert on Taklimakan.Network.