Where is the UNI token going?

0 7
Avatar for Masookhm
2 years ago

I've been watching the UNI token ever since the airdrop. I sold my air drop around $5, which at the time was really good as most people sold it immediately for around $3-3.5. I was planning on buying it back on a dip.

Instead, I provided liquidity for ETH-USDC pairing for two months when UniSwap was providing UNI based incentives to their pools. Most of this time UNI was priced under $4 with no growth in sight.

Around the time the pool incentives were ending, the price of UNI started to climb and passed $5 and then $6.

Today UNI is over $7, I'm sure most of this is the result of ETH climbing over 100% in value.

If you have been following UniSwap, you know they are working on UniSwap v3 and they believe this will be a major improvement to the platform.

"“eat Uniswap v2’s lunch,”
- Hayden Adams - UniSwap founder

One of the main focuses of UniSwap v3 is addressing slippage and capital efficiency as you can tell from another quote from founder Hayden Adams.

“2021: Uniswap V3 will face slippage and capital efficiency head on to prove AMMs can outcompete traditional exchanges on all fronts.”
- Hayden Adams - UniSwap founder

UniSwap currently has over 3 billion dollars in liquidity with a 24 hour volume of over 590 million dollars. It is pretty clear UniSwap isn't a fad and won't be disappearing.

I personally plan on holding UNI until the release of v3 and see where that takes it. I am not qualified to give out financial advice and only sharing my own personal experiences. As always, before makin

$ 0.00