Introduction
In the cryptocurrency market, the entry of new digital currencies continues to grow with every passing year. Unique cryptocurrencies are making headway by offering standout features. The Uniswap cryptocurrency, also known as the UNI coin, is one of the unique cryptocurrencies in the market today.
What is Uniswap (UNI)?
Uniswap is a decentralized cryptocurrency exchange. It is a web application and an online platform that helps traders and investors exchange their crypto wealth for profits. Founded in 2018, Uniswap is the brainchild of Hayden Adams, who developed this protocol by hosting two smart contracts on the Ethereum blockchain.
Uniswap exchange is a public platform with open-source technologies and front-end clientele. It belongs to the on-chain market with its native token called UNI. The Uniswap protocol entitles governance rights to UNI holders. These holders can vote on making changes to the protocol.
Historical Data of Uniswap
In mid-2020, UNI tokens were launched with airdrops to thousands of users. Since its launch, nearly 1 billion UNI tokens have been minted, 60% of which were distributed to the existing members of the Uniswap community. The remaining 40% have been made available to investors and advisors in the past few years.
The creator of the Uniswap platform is an Ethereum developer who worked on multiple projects before finalizing the UNI token. The UNI cryptocurrency is also derived with the help of Vitalik Buterin, the creator of Ethereum.
The original inspiration for the UNI coin comes from Buterin’s developments with the Ether (ETH) coin. Developers of the Uniswap platform focused on launching their native tokens. Back then, they felt the need for a separate digital currency to moderate the Uniswap protocol.
Uniswap Price Forecast – Does Uniswap (UNI) Have a Future?
In 2021, the cryptocurrency for Uniswap completes its first year since the airdrop. Almost every Uniswap price forecast views a potential growth in the UNI token for the next few years. In January 2021, the UNI trading price started at $4.97. It witnessed an uptrend and hit a $34.77 price on March 7th. So far, this has been the all-time high for UNI price.
According to CryptoNewsZ’s Uniswap price forecast, the price of the UNI coin might even reach higher by the end of 2021. Experts believe that improvements in the Uniswap protocol may drive the price of UNI consistently, helping it reach $75 by December.
Uniswap price predictions for 2022 foresees the price of UNI touching $78 in the first quarter of the year. If the market becomes bullish due to heavy investments from financial institutions, the UNI price may rise to $180 by the end of 2021.
A long-term UNI price prediction expert observes a significant growth in the user base for the Uniswap platform. It will drive the use of UNI in newer projects and enhance its user-friendly quotient. In the next five years, the price of UNI is likely to escalate to the $300 mark as high-end investors create more liquidity.
How to Claim Uniswap Token?
The news of another UNI airdrop has not made the news since 2020. Hence, the only way to claim a Uniswap token today is to buy the UNI coin from the Uniswap cryptocurrency exchange. The UNI token is also available on major exchanges, such as Coinbase Pro, Binance, and OKEx, for trading against stablecoins, altcoins, fiat currencies, and other cryptocurrencies.
Advantages of Buying Uniswap (UNI)
The following advantages of UNI support the Uniswap price forecast stated above.
- UNI token creates more liquidity than other cryptocurrencies
- The trading value of UNI is making huge movements in the DeFi space
- The Uniswap protocol is successful for automated cryptocurrency exchange operations
- UNI incentivizes transactional activities on the platform
- It also minimizes identity requirements
Conclusion
The above Uniswap price forecast highlights how the UNI governance token will support self-sustainable infrastructure for digital payments. In the coming years, the price of UNI coins will grow significantly, primarily due to the increasing applications of the Uniswap protocol. Investors will carefully protect UNI to make it an indestructible and reliable cryptocurrency in the future.