As the crypto market broke out on May 8, UNISWAP prices skyrocketed, with decentralized exchange native tokens surged by 17% to reach their highest level in two weeks.
With Bitcoin (BTC) regaining its $100,000 mark, Uniswap (UNI) surged above $5.50 with cryptocurrency in upward mode. Within the SPIK of daily volume, the gain had UNISWAP in vertical mode. AltCoin has traded over $214 million over the past 24 hours to represent a 70% increase.
Bitcoin's $100,000 rally could bring new momentum. However, Market Intelligence Platform analyst Santiment warns that it could become a “double-edged sword.”
“On the one hand, retail FOMO can add a little extra fuel to this rally. Major media can spam the three-month milestone of Bitcoin and bring many new entries to the space. On the other hand, we can usually see them brake when there are calls related to “higher” and “higher” related to “higher” and “higher” related to “higher” and “above.”
Uni is consistent with what catalyzes the bullish sentiment of a wider market growth, but Tailwinds includes a recent Ethereum Pectra upgrade.
read more: What kind of tariff shock is it? Bitcoin will surge beyond $100,000 as the market continues to recover
Pectra is the major update to Ethereum, and its first update since Dencun in March 2024 introduces some important features to the network. 11 improvement suggestions include improving user experience through smart accounts and delegation, upgrading staking mechanics and improving Layer 2 integration.
Unichain's rapid rise as the Uniswap community's go-to platform also supports bullish cases. On May 7, the UNISWAP team announced that Pectra activation will ensure that all 7,702 smart wallets on the network will be fully supported by the UNISWAP web app.
With each Defillama data, Unichain has become one of the top chains in the decentralized exchange ecosystem. The latest data shows last week's volume of DEX amounted to $19.9 billion. During the same period, weekly changes of Ethereum, Solana and bases of 14% exceeded that at that time.
Over the past 24 hours, Unichain's volume has exceeded $354 million, accounting for most of the Uniswap V4's day.
In addition to growing from a UniChain user account and total transaction perspective, the UniSwap platform itself sees a notable flip. The total locked value in Uniswap is approximately $4.27 billion.
You might like it too: UNISWAP prices could skyrocket as UniChain flips Ethereum, polygons and SEI Key metrics
