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Price Analysis: The Increase of Whale Addresses Drives UNI Firstly to Reach $13

UNI, the native token of Uniswap, has experienced a strong rally today, and firstly hit the peak of $13, making a new all-time high. Moreover, data show addresses owning 100,000 or more UNI have reached 237. 

Regarding what drives such a large surge, Santiment, the cryptoanalysis company, believed this comes from the increase of new whale addresses. Meanwhile, the 24-hour active users on Uniswap exceeded over 40,000, and the trading volume outpaced 10 million, accounting for around 38.13% of total trading volume on exchanges within 24 hours. 

Uniswap would give the priority to the update of the automatic market maker (AMM) this year, which is shown in version 3.0 of Uniswap. Version 3.0 aims to improve AMM’s user experience of both traders and liquidity providers, and further advance the efficiency and flexibility of funds. 

2021 would be the year for Layer2 to put into effect and explore. Uniswap would probably update its Layer2 solution, once this succeeds, it will allow much lower transaction fees and much faster transaction speeds. 

At that time, it could be expected UNI to see another round of development. 

As of this writing, the UNI in circulation is around 286 million, with a current price of $12.5593 and a market capitalization of $20.38 billion

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