Uniswap Price Prediction For 2023-2024 – Will $UNI Crypto Pump More?

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Uniswap (UNI) has been the top-performing coin following the recent surge in the crypto market, with its price surging by around 18% in the past week. It currently stands as the 22nd most valuable cryptocurrency by market cap.

$UNI is the governance token of Uniswap, a fully decentralized exchange. It operates on the Ethereum network and uses automated market makers (AMMs) to simplify the process of swapping ERC-20 tokens. $UNI was launched in 2020 as an ERC-20 token.

It grants Uniswap users voting rights to participate in governance proposals. The Uniswap platform allows for permissionless listing of ERC-20 tokens. Each listed ERC-20 token has its own exchange smart contract and liquidity pool on Uniswap. Users can easily trade ERC-20 tokens and contribute to the liquidity pool.

$UNI Crypto Price Prediction

At the time of writing, Uniswap is priced at $6.20, with a 24-hour trading volume of $509.03 million and a market cap of $3.65 billion. Over the last 24 hours, the $UNI price has experienced a 3.90% increase. If the current trend persists, $UNI might approach resistance levels at $6.29, $6.41, and potentially $6.61.

Conversely, a reversal in the trend could see the price fall to support levels of $5.97 and $5.75. In a scenario where market momentum and investor sentiment remain positive, there’s a possibility that Uniswap could reach $10 by the close of 2023. Looking ahead to 2024, the anticipated bottom price for Uniswap might be $12.10.

The technical analysis suggests that $UNI has the potential to reach up to $15.18, with an average estimated price of $12.10. Additionally, considering potential future upgrades and advancements in the Uniswap ecosystem, $UNI could surpass its current all-time high (ATH) of $44.97, establishing a new ATH in the near future.

View the video above for a comprehensive analysis of $UNI price predictions, and subscribe to Jacob Crypto Bury’s YouTube channel for additional crypto-related content. Jacob also manages a Discord channel with 17,000 members, offering trading tips and insights into upcoming crypto presales.

Uniswap v4 Streamlines Swapping and Pool Creation with Significant Gas Fee Reductions

Two years ago, Uniswap introduced Uniswap v3, marking a significant development in onchain liquidity and DeFi. Recognizing the need to adapt to evolving technology and markets, Uniswap is excited to unveil its vision for Uniswap v4.

Uniswap v4 is the next evolution of the Uniswap Protocol, designed to enhance customization and efficiency while retaining the core strengths of its predecessor. It introduces the concept of “hooks,” which are contracts that allow developers to modify the behavior of pools and create new types of pools with different features.

Additionally, Uniswap v4 employs a new “singleton” contract architecture that reduces costs and improves routing efficiency. The release of the draft code marks the beginning of an open development process, inviting community feedback and contributions to shape the future of Uniswap v4.

Hooks & Custom Pools

Uniswap v4 introduces a groundbreaking concept called “hooks,” which enables customizable liquidity pools. Unlike the rigid structure of v3, v4 allows pool creators to inject code that triggers specific actions at crucial points in the pool’s lifecycle, such as before or after a swap or LP position change.

These hooks function as plugins, empowering developers to create tailored AMM pools by integrating with v4’s smart contracts.

The introduction of hooks opens up a realm of possibilities, enabling the creation of AMMs like time-weighted average market makers (TWAMM), dynamic fee models based on volatility, onchain limit orders, automated liquidity management, customized oracles, autocompounded LP fees, and redistribution of MEV profits back to LPs.

Uniswap v4 fosters diverse and innovative pools, as each pool is defined by more than just tokens and fee tiers. While the core logic of v4 remains unchangeable, individual pools can leverage their own hook smart contracts with permissions specified at creation.

The flexibility introduced by hooks encourages developers to push the boundaries of innovation and implement features beyond the current framework.

Improved Architecture and Gas Savings

Uniswap v4 introduces a revolutionary singleton contract architecture, replacing the v3 approach of deploying a separate contract for each pool. This change dramatically reduces gas costs by eliminating the need to transfer tokens between pools held in different contracts.

Early estimates suggest a remarkable 99% reduction in gas costs for pool creation. The singleton structure, combined with the introduction of hooks, creates a versatile platform for efficient routing across all pools.

1/ Uniswap v4 cuts gas on swapping and creating new pools ⛽

How?

Singleton, flash accounting, and & EIP 1153 🧵

— Uniswap Labs 🦄 (@Uniswap) November 21, 2023

Uniswap v4 also features a “flash accounting” system that optimizes asset transfers by only executing them on net balances, further reducing gas costs. The proposed use of “transient storage” enabled by EIP-1153, currently under consideration for the Ethereum Cancun hardfork, promises even greater gas improvements and cleaner contract designs.

With this enhanced efficiency, fee tiers are no longer restricted, allowing pool creators to set them competitively or customize them using a dynamic fee hook. Uniswap v4 also reintroduces support for native ETH, contributing to additional gas savings.

License and Governance

The Uniswap team upholds the principles of openness and transparency in core financial infrastructure. For Uniswap v4, they emphasize community governance, entrusting the people and teams supporting, using, and building on the Protocol to oversee its operation, aligning with the approach taken in previous versions.

The code for v4 will be released under a Business Source License 1.1, initially restricting commercial or production use for up to four years. After this period, it will convert to a GPL license indefinitely.

Exceptions to the license can be granted by Uniswap Governance and Uniswap Labs, similar to the arrangement in v3. The Protocol fee mechanism in v4 mirrors that of v3, allowing governance to vote and add a Protocol fee to any pool, with an upper limit on the fee amount.

Conclusion

The recent bearish trend has significantly impacted the decentralized finance (DeFi) sector, and Uniswap, being a prominent DeFi platform, has seen notable fluctuations in its native token, $UNI, reflecting the broader crypto market’s volatility.

Despite this, the price has stabilized after various integrations and network developments, maintaining user engagement with the platform.

The continuous enhancements of the Uniswap platform have drawn attention from a diverse group of investors and crypto analysts, prompting them to share their perspectives on potential future price movements.

Uniswap remains a promising force in the crypto community, empowering developers with sophisticated tools to craft cutting-edge decentralized applications. To gain a more comprehensive perspective of potentially profitable investment prospects, see our articles highlighting the top cryptos to buy now.

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