This week, the DeFi ace project Uniswap finally announced the issuance of coins amidst the many calls, and the initial liquidity mining plan was also launched.
After Uniswap issued the token, many mainstream exchanges such as Coinbase, Binance, Huobi, OKEx announced the listing of the token for the first time, which also caused the price of Uniswap (UNI) tokens to rise continuously. According to data from CoinMarketCap, the price of Uniswap (UNI) tokens has exceeded $8, an increase of more than 170% in the past 24 hours.
The rise in the price of Uniswap (UNI) tokens is entirely expected by the industry. Uniswap is considered to be one of the most important protocols in the DeFi field, and for a long time, it has been the largest decentralized trading platform. Therefore, the status of the platform token of this project is not the same as the tokens of other following projects.
In the past month, Uniswap has encountered competition from some decentralized exchanges that have joined the token mechanism, and the issuance of tokens is considered a powerful counterattack, attracted by other exchanges through liquidity mining Liquidity has returned to Uniswap again. According to industry insiders, the boom in projects such as SushiSwap has pushed Uniswap to implement its currency issuance plan ahead of schedule.
The popularity of Uniswap (UNI) tokens has also brought unexpected results. The prices and trading volume of multiple tokens referred to as “UNI” have increased.
Among them, UNICORN Token (UNI) has also risen by more than 100% in the past 24 hours, and it has risen by more than 1000% at the peak. In addition, in terms of price and transaction volume, the price and transaction volume of Universe (UNI) and UNI COIN (UNI) tokens, which have been “zeroed” for a long time, also increased sharply in the past two days.
Although Uniswap is a star project in the DeFi field, the failure of multiple liquid mining projects before has also worried some people in the industry. Although liquidity mining can boost the price of tokens soaring in the short term, in the long run, the bubble will eventually burst. Whether Unisswap can get rid of this curse still needs time to test.