South Korea’s biggest crypto exchange Upbit has decided to list the UNI token in the market. According to official announcement, UNI will be listed on Upbit on its KRW and USDT markets. Trading will begin at 15:00 on October 22 (UTC+8).
The UNI/BTC trading pair was previously listed on Upbit. With the new advancement, Upbit has been promoting UNI to the common public in full swing.
The news gave the UNI token a good boost, uplifting investor sentiment. At the press time, UNI is trading at $8.02, up 5.33% as compared to the same time last day.
The optimistic sentiment was also reflected in UNI’s trading volumes which were up over $446.51 million, or 144.31% in the last 24 hours.
UNI Gains Market Traction With Uniswap Advances
UNI token has been grabbing a lot of market traction lately, thanks to the advances in the Uniswap ecosystem.
Being one of the cryptocurrency industry’s most well-known decentralized exchanges, Uniswap promotes itself as an inventive effort. Proponents of blockchain technology who are against large, centralized cryptocurrency exchanges favor the Uniswap initiative because of its decentralization and open governance via its UNI token.
Following its September 2020 introduction, UNI’s price swiftly rose to more than $7 in a very short period of time. UNI hit its highest point ever in May 2021, at $42. However, in keeping with the larger DeFi ecosystem, the price of UNI declined for the remainder of 2021.
Eventually, the price of UNI dropped even more in early 2022, reaching nearly $4 in June. The rest of 2023 and 2024 saw a price recovery for the token, giving it the much-needed momentum that it currently has.
Will UNI Keep Rising In The Future?
UNI token has enjoyed good trading days recently. If this momentum continues, Uniswap is expected to increase by 131.29% in the coming month.
The present sentiment for the coin is bullish, according to technical indicators, and the Fear & Greed Index is currently at 70 (Greed). Over the previous 30 days, Uniswap saw 15 out of 30 (50%) green days and 5.75% price volatility.
With 28 technical analysis indicators indicating optimistic signals and two indicating bearish signals, the overall Uniswap price prediction emotion is bullish for the near-term outlook.
Other market parameters predict that Uniswap’s 200-day SMA will increase during the course of the upcoming month. During the same course of time, Uniswap’s short-term 50-day SMA is predicted to reach $9.49.
The momentum oscillator known as the Relative Strength Index (RSI) is a widely used indicator that indicates when a cryptocurrency is overbought (above 70) or oversold (below 30). The UNI market is currently in a neutral condition, as shown by the RSI figure of 55.78.