While significant price growth is not uncommon in the digital currency ecosystem, it is somewhat unusual in the case of Uniswap. Thanks to the current growth, the asset's price has jumped more than 113% in the past month.
The #Uniswap ecosystem currently has a few unique foundations, one of which is the introduction of the UNI. ETH domain name. However, the protocol will also bring important changes to the rates and rewards mechanism.
The update will reward users who have already bid and delegated tokens, with the platform emphasizing that their participation has been instrumental in strengthening the decentralized nature of the trading mechanism. This excitement and potential reward has caused a surge in Uniswap's popularity, with transaction volume jumping 1,834% to $2,564,993,883 in 24 hours.
Artificial intelligence tokens have been in the spotlight in recent weeks, with tokens such as Render (RNDR) and SingularityNET (AGIX) achieving sustained bullish spikes.
Uniswap's rise underscores that no single asset class is dominating the rally. #Bitcoin (BTC) has also maintained positive momentum this year following the approval and launch of a spot exchange-traded fund (ETF) tied to the price of the asset.
Overall, the latest Uniswap update and accompanying growth could soon lead to a cliff, but according to IntoTheBlock (ITB), the current rally has led more than 56% of wallet holders to profit.
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