According to the announcement made by Hayden Adams, the creator of Uniswap, a swap fee of 0.15% would be implemented starting from October 17.
Adams observed that the fees are specifically relevant to particular tokens, namely stable pairings, which constitute a significant portion of the trading volume, up to 85%.
The price of Uniswap now remains significantly below the 50-day Exponential Moving Average (EMA), and it is of utmost importance to regain this level in order to facilitate a potential rebound.
The Uniswap price has had a notable upward trend in recent days; yet, the prevailing mood towards the cryptocurrency continues to be predominantly pessimistic. In addition, it was seen that the community exhibited a lack of support towards the proposed alteration in exchange costs put out by the inventor of the protocol.
#uniswap is set to implement swap fees.
Hayden Adams, the founder of Uniswap, made an announcement on X (previously known as Twitter) on the implementation of a new swap fee for users of the protocol. Adams observed that the fees exhibit dissimilarity in comparison to the fee switch of the Uniswap Protocol, a process subject to voting by UNI token governance.
The exchange fee will be allocated for the purpose of enhancing the protocol. Adams reaffirmed his statement.
The interface charge being offered is among the most competitive within the market. Its implementation will enable us to sustain our efforts in conducting research, development, manufacturing, distribution, enhancement, and expansion of #cryptocurrency and decentralised finance (DeFi) technologies.
The swap charge, which is determined to be 0.15% of the output token quantity upon transaction settlement, will exclusively apply to certain tokens. Adams observed that the aforementioned list is subject to regular updates and presently encompasses the following digital assets: ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.
Ari Paul, the founder of Blocktower Capital, expressed approval for Uniswap's decision.
It is indeed reasonable to impose a price for front-end or additional features that are distinct from the underlying protocol. It is really intriguing that there is a need to elucidate the concept of intelligent communication, which I find amusing.
Nevertheless, there were some who appeared to be sceptical of the notion that people were asserting,
The list has been criticised by users for its perceived lack of use, since it mostly consists of steady pairings that account for around 85% of the total trading volume.
There is a possibility of a decline in the price of Uniswap.
The price of Uniswap saw a 4.36% fluctuation during intra-day trading, starting at $4.12. This movement occurred subsequent to a recent rebound from the support level of $3.99. Nevertheless, the subsequent significant obstacle required to commence the process of recuperation is around 8% more than the current trading price.
The resistance level of $4.47 aligns with the 50-day Exponential Moving Average (EMA), making it crucial for UNI's recovery to regain this level. However, upon analysing the Relative Strength Index (RSI), which now indicates a negative trend, the overall outlook for $UNI is predominantly gloomy.
The verification of this hypothesis would be contingent upon the altcoin's breach of the $3.99 support level, perhaps resulting in a decline of the Uniswap price towards $3.50.
However, in the event that the overall market indicators become optimistic, the pessimistic argument might be disproven if the resistance level of $4.47 is surpassed and then establishes itself as a level of support. The Uniswap price is expected to surpass the 100-day Exponential Moving Average (EMA) line, which is now valued at $4.73.
