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Uniswap (UNI) has attracted attention in the market by recording a rapid increase with the launch of its Layer-2 solution, Unichain.
Uniswap’s native token, UNI, has gained 15 percent daily value following the launch of its Layer-2 network, Unichain, which was announced on October 10. The price of UNI has increased by 25 percent in the last week, while its last 30-day increase has reached 23 percent. Daily transaction volume has also increased by 418 percent to $583.2 million. With a market value of $5 billion, UNI ranks 20th in the CoinMarketCap rankings.
Innovations in Uniswap continue to attract attention This strong increase in UNI occurred after Uniswap Labs launched its application-specific Layer-2 blockchain network, Unichain. Uniswap Labs stated that Unichain aims to provide faster and more cost-effective transactions between blockchain networks and provide enhanced interoperability.
The new application chain will initially operate with 1-second block times, with plans to reduce this time to less than 250 milliseconds in the future. Since Unichain is built on Optimism’s Superchain infrastructure, investors will also be able to access liquidity from other Layer-2 networks such as Coinbase’s Base and Synthetix’s SNAXchain.
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UNI price makes a strong rise after a long hiatus According to Cointelegraph Markets Pro data, the UNI price increased by over 17% on October 10, from $7.20 to $8.46, following the launch of Unichain. On-chain analytics platform CryptoQuant noted a large increase in activity on the Uniswap network. While only 40 transactions were made on October 9, this number increased to 673 on October 10, an increase of 1,582 percent.
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