Uniswap Rises After Unichain News!

Uniswap (UNI) Surged Rapidly Following the Launch of Its Layer-2 Solution, Unichain

Uniswap’s native token UNI gained significant attention in the market after the launch of the Layer-2 network, Unichain, announced on October 10. Following the announcement, UNI increased by 15% daily. Over the past week, UNI’s price has risen by 25%, with a 23% increase over the last 30 days. Its daily trading volume surged by 418%, reaching $583.2 million. With a market capitalization of $5 billion, UNI is ranked 20th on CoinMarketCap.

The innovations at Uniswap continue to attract interest. This strong rise in UNI followed the release of Unichain, a Layer-2 blockchain network specifically developed by Uniswap Labs. Uniswap Labs stated that Unichain aims to provide faster and more cost-effective transactions across blockchain networks, along with enhanced interoperability.

The new application chain will initially operate with 1-second block times, with plans to reduce this to below 250 milliseconds in the future. Since Unichain is built on Optimism’s Superchain infrastructure, investors will also have access to liquidity from other Layer-2 networks, such as Coinbase’s Base and Synthetix’s SNAXchain.

UNI price surged strongly after a long period of stagnation. According to Cointelegraph Markets Pro data, UNI’s price rose by over 17% on October 10, climbing from $7.20 to $8.46 following the launch of Unichain. On-chain analysis platform CryptoQuant noted a significant increase in activity on the Uniswap network. On October 9, only 40 transactions were made, but this number jumped to 673 on October 10, marking a 1,582% increase.