Is it finally time to buy this unicorn crypto?

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Uniswap (UNI quote) is one of the best known pioneers of decentralized finance (DeFi) and has always had a passionate following in the cryptocurrency space. Uniswap is currently the first cryptocurrency in the world by market capitalization. Uniswap’s main appeal has always been cryptocurrency enthusiasts, not traditional investors. In fact it is not included in DeFi, it is not possible to send it to Uniswap.

That’s why Robinhood Markets’ recent announcement of adding Uniswap to their cryptocurrency app’s trading menu is so exciting. Today there are only XNUMX cryptovalues ​​on the menu, so the move could help Uniswap find a more mainstream acceptance, especially among young millennials. Anyone who opens the Robinhood app on their phone can find Uniswap next to fan favorites are Bitcoin or Ethereum. Perhaps unsurprisingly, Uniswap has already started its rally.

See the DeFi unicorn

Launched in November 2019, Uniswap has been a leader in the DeFi space. With the support of various major venture capital firms (including Union Square Ventures and Andreessen Horowitz), Uniswap popularized the decentralized exchange (DEX) concept. This focus on several Coinbase currencies, which a centralized exchange (CEX). Uniswap also pioneered the Automatic Market Maker (AMM) concept, which describes how liquidity is provided to the market. Maybe ask yourself if you’re dark or arcane if you don’t work on Wall Street, but it’s the fundamental foundation of decentralized finance.

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Sure, that’s why the other exchange is decentralized in circles, but with funny names comes SushiSwap or PancakeSwap. However, Uniswap is widely recognized as the best and most specialized crypto token on the Ethereum blockchain. Furthermore, Uniswap has just reached an important milestone (more than XNUMX billion dollars traded in its lifetime) in May. Controversial new research from Kaiko suggests that trading volume on Uniswap may soon approach that of Coinbase.

In the summer of XNUMX (also known to ai to cryptocurrency enthusiasts as DeFi summer), Uniswap was so popular that even the most influential mainstream publications, such as Bloomberg, loved it. Uniswap’s market cap is now over $ 1 billion (five times that of a traditional Silicon Valley unicorn) and Uniswap’s logo is a pink and white unicorn. So, invest in Uniswap if you invest in a DeFi Unicorn.

Uniswap and NFT

Another catalyst for Uniswap This summer could be its strategic entry into the non-fungible token market (NFT). In June, Uniswap announced it had acquired Genie, a new breed of NFT market. An alternative to a traditional NFT market are OpenSea, Genie and an aggregator market. This means that NFT ads are collected from various other marketplaces to provide users with a full set of ads. (Likewise, a news aggregator collects content from various news sources into a single principal dashboard).

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This is a strategic goal as it is interesting that Uniswap is applying the same technology of using market making for trading NFT crypto tokens. The not quite effective mod in which NFTs are traded today is a difficult time chord that is a buyer and a seller and at the same time the final price of the NFT sale. By leveraging its proprietary technology, Uniswap could theoretically make this process much more efficient and provide more liquidity to the NFT market as a whole.

A second opportunity to acquire Uniswap

Investing in Uniswap now potentially gives you access to a cryptocurrency with high growth potential and huge upside potential depending on where you are in the DeFi world. Most importantly, Uniswap is being exchanged for less than $ XNUMX right now. At its all-time high, Uniswap traded at just under $ XNUMX, so there is some upside. You may not have been able to compare Uniswap in XNUMX, but now you have a second possible, and at a bargain price.

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