{"id":28881,"date":"2020-09-18T15:16:15","date_gmt":"2020-09-18T12:16:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28881"},"modified":"2025-08-27T13:51:38","modified_gmt":"2025-08-27T10:51:38","slug":"native-uniswap-token-enters-the-top-50-assets-by-market-capitalization","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/native-uniswap-token-enters-the-top-50-assets-by-market-capitalization\/","title":{"rendered":"Native Uniswap token enters the top 50 assets by market capitalization"},"content":{"rendered":"

After listing on leading centralized platforms, the Uniswap decentralized exchange’s native token rose by 75% to $5.28. With a market cap of $457 million, UNI ranked 42nd in CoinGecko’s rating.<\/p>\n

\"The<\/p>\n

UNI\/USD rate. Data: CoinGecko<\/a>.<\/p>\n<\/div>\n

Amid the price surge of the Uniswap native token, UNI reclaimed first place by total value locked in the segment. According to DeFi Pulse<\/a>, the leading DEX’s 24-hour TVL jumped 80% to $1.43 billion.<\/p>\n

The excitement surrounding the UNI launch led to a new record for the daily number of Ethereum network transactions. According to Etherscan<\/a>, on September 17 this figure reached 1.406 million. The previous maximum of 1.35 million was set on January 4, 2018.<\/p>\n

\"The<\/p>\n

Number of Ethereum network transactions. Data: Etherscan<\/a>.<\/p>\n<\/div>\n

An hour after the launch<\/a>, UNI appeared on Binance’s exchange listing. Five hours later, a similar reaction followed from Coinbase Pro<\/a>, giving rise to the so-called ‘Coinbase Effect’.<\/p>\n

As of now, UNI has been listed on 12 exchanges in 40 trading pairs. According to CoinGecko, the token’s trading volume over the last 24 hours stood at $2.89 billion, trailing only Tether, Bitcoin and Ethereum.<\/p>\n

\"The<\/p>\n

Top-5 assets by trading volume. Data: CoinGecko<\/a>.<\/p>\n<\/div>\n

By market capitalization, UNI ranked<\/a> 11th in the DeFi segment.<\/p>\n

According to some users, UNI’s gains may continue. Supporting this view is a large retail audience (82.4 thousand traders over the last seven days, according to Dune Analytics<\/a>) and the affordable price for ordinary market participants.<\/p>\n

\n

I think UNI is the first DeFi token likely to begin to approach a fair value soon.<\/p>\n

1) It\u2019s cheap, so retail can \/ will FOMO in
\n2) Easy to understand \/ a lot of retail has used it already
\n3) Lots of retail has some now
\n4) Huge community
\n5) Easy comparison vs. Coinbase IPO ~$50 B<\/p>\n

\u2014 HuntingIsland \u27e0 \u2018ETH is programmable money\u2019 (@IslandHunting) September 17, 2020<\/a><\/p>\n<\/blockquote>\n