Potential Reasons Behind Uniswap’s Recent Growth and UNI’s Price Surge

Uniswap has seen substantial growth over the last week following the implementation of various features on the platform, such as Rootstock, an Android mobile wallet app, and extended capabilities to other blockchains.

Uniswap’s native cryptocurrency, UNI, has also experienced a notable surge during the recent crypto bull market, witnessing a 22% increase over the past week, rising from $5.75 to $7.05.

Uniswap Experiences Massive Growth

Beyond financial gains, Uniswap has expanded its user support by incorporating various new features. Notably, the DEX has entered the Bitcoin ecosystem by launching on Rootstock, a sidechain connected to the world’s largest blockchain network.

Spearheaded by GFX Labs, the creator of the Oku trading engine, this initiative provides users with advanced capabilities, enabling seamless management of positions, order placement, and analytics monitoring on Rootstock.

Originally designed to operate exclusively on Ethereum, Uniswap has demonstrated adaptability by extending its presence to blockchains, including BNB Chain, Polygon, Arbitrum, and Optimism Base. This strategic diversification aims to broaden Uniswap’s market reach and strengthen its position as a significant player in the dynamic landscape of decentralized finance.

Uniswap Labs also launched its new Android mobile wallet app last month, which allows users to make swaps and increases accessibility to the decentralized finance world. The recent launch of the Uniswap app on Android, following a closed beta in October and an iOS version in April, reflects Uniswap’s commitment to expanding its user base.

According to Callil Capuozzo, Vice President of Design at Uniswap, the Android app incorporates user feedback to enhance the efficiency of copying and pasting wallet addresses.

Meanwhile, Uniswap founder Hayden Adams joked on X that the trading volume on the Uniswap platform exceeded the combined numbers of the New York Stock Exchange (NYSE) and Nasdaq yesterday. It’s worth noting that the NYSE and Nasdaq were closed because of the Christmas Holidays.

Today, 🦄 volume was higher than NYSE and NASDAQ combined

Hope everyone is having a wonderful holiday 🎄❄️

— hayden.eth 🦄 (@haydenzadams) December 25, 2023

Uniswap Tokens Become Top-Performers

Amidst a broader slowdown in the crypto market following weeks of price surges, certain Uniswap tokens stand out as notable performers, attracting attention from investors and traders.

One standout performer is METIS, which is currently trading at $72.96, reflecting a 46.6% increase in the past day. The cryptocurrency has surged by approximately 159.1% over the past week.

Similarly, MIND has grown significantly, rising by about 38.1%, reaching $0.104.

Additionally, BEAM has experienced a notable increase of over 5.1%, reaching $0.11. The token has gained more than 70% over the past month.