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Apart from Dogecoin, there is one more cryptocurrency called Uniswap, which is reaching a high level of growth. Currently, UNI token prices are skyrocketing by 5.1% within a day. In October 2022, UNI recorded the highest growth rate at 16%. To make Uniswap accessible to more crypto users across the world, it raised its B series funding up to $165 million (USD).
DOGE reached a value of up to $27 million (USD) within one day after the announcement by Musk. The two most popular cryptocurrencies, Bitcoin and Ether, are trading at $12 million (USD) and $14 million (USD), respectively, which are currently lower than Dogecoin.
The announcement created an immediate response in Dogecoin that jumped its price from 7 cents to 15 cents. The Dogecoin blockchain transactions increased from 25,000 to 37,000 on Monday morning.
UNI token has sided with all the cryptocurrencies this week. Now Uniswap is holding the highest market share value in the crypto industry. The two most popular cryptocurrencies, Bitcoin and Ether, are holding $20,000 (USD) and $1,500 (USD), respectively. The developers have high expectations of Uniswap, believing that it will become the most convenient Web3 infrastructure for all developers.
“When I built the Uniswap Protocol in 2018, it was an experiment to see if I could create something that fully embodied the values of Etherum.” “As Uniswamp Labs focuses on products, a much broader ecosystem continues to grow and thrive beyond what any one company can do on its own,” by Hayden Adams.
The recent innovation of the Uniswap Auto Router will help to fetch the optimized trade routes for swapping on Uniswamp. The Uniswap protocol’s auto-router will help the users swap for the best price and lowest fees across all pools and can save them up to 45% on trading.
“Uniswap’s TWAP oracles were designed to operate in a Proof of Work (PoW) mode, and their security was based on the fact that manipulators would lose money due to back-runs.” Recently, there was news announced by developers that 97.7% of tokens released on the platform turned out to be rug pulls.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
