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Uniswap vs US Dollar (UNI/USD CFD)

Trading Conditions:

Axi Symbol: UNIUSD

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3 Day Financing: Friday

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Pricing is indicative. Past performance is not a reliable indicator of future results. Client sentiment is provided for general information only, is historical in nature and is not intended to provide any form of trading or investment advice - it must not form the basis of your trading or investment decisions.

What is UNI/USD?

UNI/USD represents the price of Uniswap's native cryptocurrency, UNI, in US dollars. UNI serves various essential roles within the Uniswap ecosystem, including governance participation, liquidity provision, and earning fee rewards. It has gained significant traction within the decentralised finance (DeFi) space.

Uniswap is one of the largest and most widely used decentralised cryptocurrency exchanges (DEXs) built on the Ethereum blockchain. DEXs allow users to trade ERC-20 tokens directly from their wallets without the need for intermediaries. These exchanges use smart contracts based on blockchain technology to facilitate and verify transactions, ensuring the security and transparency of every trade.

The primary benefit of DEXs, such as Uniswap, is their lack of a single point of failure that can be exploited. This approach aligns with the Decentralised Finance (DeFi) ecosystem's core principles of trustlessness and security.

UNI/USD historical performance

UNI made its debut in September 2020 through an allocation (airdrop) that distributed four hundred tokens to early Uniswap platform users. The airdrop price of UNI was only $2 per token, but it quickly gained traction and eventually reached an all-time high (ATH) of $45 in May 2021, albeit after experiencing significant price volatility.

UNI's price movements have often been closely tied to developments within the Uniswap ecosystem. These include significant protocol upgrades, governance decisions, and strategic partnerships, which have consistently played a pivotal role in shaping UNI's market value.

UNI's value has decreased and stabilised alongside that of other cryptocurrencies. It has remained in a consolidation phase for the past year and a half, trading at approximately one-tenth of its ATH value.

It is important to note that UNI has a maximum supply of one billion tokens, a factor that can affect its long-term price dynamics.

What affects the price of UNI/USD?

UNI/USD prices are influenced by several factors that impact market sentiment. Uniswap Protocol upgrades, announced by the Uniswap team, play a significant role. These upgrades have a direct impact on the functionality and user experience of the protocol, which in turn impacts the price of UNI.

UNI holders can influence the direction of the protocol, which impacts its operations and rewards. Important governance proposals and their results are crucial to UNI's performance.

Also relevant are market developments in the broader DeFi and cryptocurrency sectors. Trends like DeFi adoption, regulatory changes, and shifts in market sentiment can sway UNI's price.

Moreover, partnerships and integrations with other DeFi projects or blockchain platforms can increase UNI's adoption and, by extension, its price. When trading UNI/USD, traders and investors should closely monitor these dynamics.

What to watch out for when trading UNI/USD?

Traders must closely monitor data releases and statements from organisations that can impact regulatory policies, market sentiment, and the cryptocurrency market when trading UNI/USD, including:

  • Announcements from Uniswap's founder, Hayden Adams, and other influential figures in the cryptocurrency space that regard platform updates, new features, partnerships, and integrations.
  • Changes to the Ethereum network, such as a new scaling solution or improvements to transaction speed and fees, may have an impact on UNI's usability and demand, as well as its price.
  • Token burns from Uniswap, which may increase the value of remaining tokens. Buybacks involve the purchase of UNI tokens from the market, thereby reducing their supply and potentially increasing their prices.
The data is sourced from third-party providers. This information is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product, or instrument; or to participate in any trading strategy. It has been prepared without taking your objectives, financial situation, or needs into account. Any references to past performance and forecasts are not reliable indicators of future results. Axi makes no representation and assumes no liability regarding the accuracy and completeness of the content in this publication. Readers should seek their own advice.

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