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UNI Price Rebounds Along with Its Market Capitalization

UNI Price Rebounds Along with Its Market Capitalization - CoinQuora
  • UNI recovers its price to almost 20%.
  • UNI’s market capitalization boosted up along with the rise of its crypto price.
  • Uniswap DEX maintains its lead across all DeFi platforms.

Uniswap DEX’s native token UNI has recovered its price today along with its market capitalization. This a great comeback for the newly-launched cryptocurrency.

UNI Price Rebounds

Despite the challenges that UNI faces inside the crypto world, the digital asset remains patient and steady while waiting for the right time to rise again. Today, the cryptocurrency was seen to bounce back from its downfall in the past week. The price of the coin has increased by over 20% from $3.80 to over $4.60.

UNI Token Price Chart (Source: CoinGecko)
UNI Token Price Chart (Source: CoinGecko)

As a result, the market capitalization of the crypto also climbed up to almost $120 million, making the total market cap value of the crypto to reach the $600 million mark. At the press time, the digital asset ranked among the top 30 cryptocurrencies in Coingecko.

Uniswap’s Token Faces Market Volatility

Launched on September 17, the Ethereum-based protocol’s ERC20 token cannot escape the market volatility inside the crypto space. It is seen that after 24 hours of its launch, the crypto reached an all-time high price of $7.82 from its opening price of $1. This price standing of the token did not last long. On the same day, the price falls down to almost 30% along with its trading volume.

Read Also: Uniswap Token Hits $140M Market Cap at Launch Date

On the other hand, Uniswap continues to be the leading platform in the DeFi space with a total value locked (TVL) of $1.74 billion. Uniswap’s TVL contributes to almost 18.65% of the overall TVL within the DeFi market.

CoinQuora is an online publication that aims to educate about news, exchanges, and markets in the cryptocurrency and blockchain industry