Is it a good time to buy Uniswap (UNI)? • Benzinga


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The Uniswap protocol is an automated market maker (AMM) used to trade ERC-20 tokens – the most popular Ethereum-based token standard. Uniswap is also commonly referred to as DEX, short for Decentralized Exchange. With over $1 trillion in trading volume and a recent non-fungible token (NFT) aggregator acquisition, Uniswap and its development team at Uniswap Labs have become essential for peer-to-peer crypto trading.

Although Uniswap is a protocol governed by a Decentralized Autonomous Organization (DAO), its founder Hayden Adams also runs a for-profit company called Uniswap Labs, which helps manage and integrate new technologies into Uniswap.

Despite the many DEXs to choose from, Uniswap has managed to become an industry leader and a trusted name for secure transactions. With the market falling, some investors are buying UNI, the Uniswap governance token, for cheap. The cryptocurrency is one of the few in the market that has shown value.

Is it a good time to buy Uniswap?

Market sentiment is at an all-time low; crypto and broader markets reflected sentiment of a sell-off in 2022. Uniswap lost around 75% of its value in 2022 and is down nearly 88% from its all-time high in May 2021.

The gravity of the bear market is impossible to escape. Uniswap got some bullish news from its camp with the successful launch of Uniswap V3 and the acquisition of aggregator NFT Genie. A brief price rally took place but nothing substantial.

The acquisition of Genie is a huge step forward for Uniswap. Not only did he launch the protocol in the NFT space, but he also acquired the entire Genie team for Uniswap Labs. The team of approximately 15 people will join Uniswap Labs to build Uniswap into a hub for digital property.

It is also worth noting that Uniswap has chosen to release USDC – a popular stablecoin – to any user who has made two or more transactions on Genie. Rewarding the Genie community unrelated to a protocol is an uncommon decision.

How long will the crypto bear market last?

The duration of bear markets varies, with most lasting around 10 months. However, market conditions this time around could indicate an extended bear market. With inflation at record highs and a tightening cycle expected to last through 2024, little positive news is coming out on macro fundamentals.

With many investors calling for a painful recession, it’s important to think back to 2020 when fear rushed through markets as businesses were shut down in response to COVID-19. With all signs pointing to a recession, the Fed responded with record money printing.

A pivot from the Fed could instantly alter market conditions. An endless amount of other potential factors could alter the state of the market.

It is difficult to time the market, but if you have a strong belief in crypto, these prices may have started to look attractive to you. A price drop does not change the fundamental technology behind the crypto.

Will Uniswap ever reach all-time highs?

For Uniswap to return to all-time highs, a complete market reversal will need to take place. Along with a change in the macro environment, Uniswap will need to continue leading DEXs in transactions, as well as integrating new technologies. The recent acquisition of Genie may add more volume to the protocol from individuals trading NFTs.

Is Uniswap (UNI) a good long-term investment?

If you are heavily condemned on Ethereum and DeFi, then Uniswap could be a good long-term investment for you. The protocol is at the forefront of DeFi innovation and has an active community that continues to improve the user experience.

How to buy Uniswap (UNI)

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Disclosure: eToro USA LLC; Investments are subject to market risk, including possible loss of principal. Virtual currencies are very volatile. Your capital is in danger.

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eToro is headquartered in Cyprus, England and Israel. A major strength of eToro is its social trading operations, which allow new clients to copy the platform’s best performance. Its social trading features are top-notch, but eToro loses points for its disappointing search features and customer service.

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The UNI token is listed on some popular exchanges such as eToro. If you are looking to use a noncustodial wallet, you can log into the Uniswap app directly and trade Ethereum for the token.

How to Store Uniswap Safely

Ledger Hardware Wallet

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Launched in 2014, Ledger has evolved into a rapidly growing company developing infrastructure and security solutions for cryptocurrencies as well as blockchain applications for businesses and individuals. Born in Paris, the company has since grown to over 130 employees in France and San Francisco.

With 1,500,000 Ledger wallets already sold in 165 countries, the company aims to secure the disruptive new class of crypto assets. Ledger has developed a distinctive operating system called BOLOS, which it integrates with a secure chip for its line of wallets. So far, Ledger is proud to be the only market player to provide this technology.

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  • ERC-20 tokens
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Centralized exchanges are in hot water as a number have started to fail following the downturn in the markets. The importance of holding your own keys is more relevant than ever; however, crypto wallets carry their own risks. When using a wallet, you are solely responsible for remembering the password and seed phrase, and if you forget it, there are no primary recovery paths like there are for forgetting your password. password on a centralized exchange.

Another risk with wallets is that software wallets, often referred to as hot wallets, are susceptible to scams and hacks. Moving your digital assets to a hardware wallet, or cold wallet, is good practice. A hardware wallet has less compromising qualities than a software wallet.

A popular hardware wallet manufacturer is Ledger – the Ledger Nano S is a commonly used model and is a relatively easy process to set up.

How does Uniswap fit into the big picture?

Uniswap’s UNI token is built on the Ethereum blockchain. It is used to vote in the DAO that governs the DEX. The token funds pools of liquidity used to grow the ecosystem through partnerships, grants, and other activities.

The UNI token is most often used as an investment vehicle to represent the value of Uniswap. It can also be used as a tool to govern and develop Uniswap.

So, is it the right time to buy Uniswap (UNI)?

If you’re in crypto for the long haul, now might be the time to pick up UNI. The protocol has provided tremendous value as a DEX, and its active community continues to improve and expand its use cases.

FAQs

Is it a good time to buy a Uniswap token?

The best time for you to buy UNI depends on your timescale and risk appetite. To invest in Uniswap, you should probably be optimistic about its use cases and willing to withstand volatile swings.

Can UNI reach new historic heights?

Uniswap is far from its historic highs. UNI will need to see a shift in market sentiment as well as continued protocol growth to return to its highs.


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