Uniswap’s Wild Ride: From Rock Bottom to Bullish Dreams 🚀

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Uniswap’s token stumbled down to a battered support line, much like a worn-out farmer tramping home after a long day, while its sprightly cousin, Unichain—the layer-2 kid on the block—kept picking up steam like a stubborn old tractor refusing to quit.

The price of Uniswap (UNI) took a nosedive to $5.26 last Saturday, a 72% free fall from the dizzy heights it once knew this year, now lingering at its lowest since early August. That’s some hard winter to weather for those holding tight.

Why the slump, you ask? Blame it on the ever-turbulent winds of the crypto market, where trade tensions whip the air like a biting gust. And what’s more, Uniswap found itself losing ground to other flashy decentralized exchanges—Raydium, Orca, and the ever-popular PancakeSwap—who seem to be throwing the best barn dances these days.

Numbers from DeFi Llama tell this tale plain: Uniswap shifted a hefty $48 billion in volume over the last month. PancakeSwap danced through $33.6 billion, while Raydium and Orca shuffled along with $11.3 billion and $13 billion, respectively. Quite the barnyard brawl for market share.

But don’t count Uniswap out yet. Its recently hatched layer-2 “baby,” Unichain, is growing fast, trading over $329 million in the past week alone, bringing its monthly tally to $301 million. It’s like that unexpected sprout pushing through cracked soil, overtaking bigger, older networks like Core and Stacks with a cheeky grin.

Uniswap baked Unichain to whip up a better bread for decentralized exchanges—one with cheaper execution, cross-chain liquidity, and transactions that hit the ground running—quicker than a jackrabbit on a summer morning.

On the fee front, Uniswap’s earnings stayed steady throughout the year. According to TokenTerminal, it raked in over $301 million in fees—outpacing Ethereum’s $234 million and AAVE’s $206 million. Not too shabby for this old-timer.

Uniswap price analysis

Looking at the charts, UNI seems poised on the edge of a bullish burst, much like a rattlesnake ready to strike. It’s sitting just above support at $5.25, lining up with a trendline tracing back to the lows of 2022—a stubborn line refusing to be crossed.

The coin’s etched out a grand megaphone pattern, the kind of bullish signal traders salivate over. Its walls stretch upward and outward, as if shouting from the mountaintop, “Get ready, this ride ain’t over!”

If the bulls pull through, we might see a romp towards last year’s peak of $19.32—a staggering 275% leap from here. But should the price fall through the bottom of that megaphone, it’s curtains at $3.4, the lowest low of 2022. Now that would really bury the hatchet.

Either way, folks, watching Uniswap is a bit like watching tumbleweeds on a windy plain—unpredictable, a little wild, but impossible to look away from. 🤠

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2025-04-19 20:10