|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Uniswap Unveils Unichain, a New L2 Designed to Be “the Home for Liquidity Across Chains”
Oct 14, 2024 at 02:00 am
Uniswap has surprisingly outpaced the broader market with the token experiencing an outstanding 17% uptick since last week, gaining bigger retail interest.
Uniswap [UNI] surprising outperformed the broader market last week, notching an impressive 17% uptick. This was largely due to a recent development that promised to take the platform’s user experience to the next level.
To that end, Uniswap announced Unichain, a new Layer 2 (L2) with faster block times and cross-chain interoperability, designed to be “the home for liquidity across chains.”
Unichain: A closer look
According to Uniswap’s latest blog post, Unichain was built to support Ethereum’s scaling efforts, which brought transaction fees down by 95% compared to the Ethereum mainnet—A figure that Unichain aimed to drive down even further. Another feature that current and future users will appreciate is the fast transaction times, thanks to Unichain’s 1-second block times.
As the platform matures, Unichain planned to roll out 250-millisecond block times in the future, further decreasing transaction times and increasing the number of transactions the platform can handle. These faster transaction times were made possible by the trusted execution environment (TEE), a feature that was developed in collaboration with Flashbots, an R&D organization on Ethereum.
Given that Uniswap is already a part of the Optimism Superchain, users of Unichain will benefit from built-in cross-chain interoperability. In essence, this will allow users to interact with other L2s that are a part of the Superchain without encountering any hiccups.
At present, Uniswap has rolled out the Unichain Testnet Bridge Rewards program, which will permit users to bridge to the Unichain testnet and experience the new L2 firsthand. The platform has also set up a 20,000-participant Early Adopter Rewards program to encourage new users to join the young platform. As Unichain matures, it will continue to grow to be a major competitor in the market.
Continued rejection at $8.186 puts UNI in an awkward position
Despite the token experiencing an uptick, the $8.186 resistance level proved to be a difficult obstacle for investors and traders to overcome. At the time of writing, UNI was still trading within the range of $7.518 and $8.186, which put the token in an awkward position.
UNI’s relative strength index (RSI) continued to indicate that the token might fall below the $7.518 support level in the short to medium term. However, it remained to be seen whether the present trading range would give way to the bears in the medium term.
At its current rate, UNI bulls will have to contend with a growing bearish sentiment that will wipe out the gains made within the previous week. In this case, investors and traders should be cautious about entering the market at present, as the token’s momentum will put UNI well below $7.518 in the short term.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Ripple Labs Inc. CEO Brad Garlinghouse is one of the major critics of regulation by enforcement tactics of the United States Securities and Exchange Commission (SEC).
- Oct 14, 2024 at 08:20 am
- Recently, Garlinghouse took to Twitter to slam the regulator following the latest Notice of Appeals filed by the regulator in its legal battle against the firm.
-
- Lunex Network (LNEX) Presale Gem Set to Gain Massive Adoption, Can It Outperform Solana (SOL) by 2025?
- Oct 14, 2024 at 08:15 am
- LINK holders are particularly eyeing a new DeFi protocol, Lunex Network (LNEX). With an 18x growth projected for it after launch, this presale gem is set to gain massive adoption.
-
- "You Gotta Be Kitten Me!": The Purr-fect Bluffing Game for Your Family and Friends
- Oct 14, 2024 at 08:15 am
- "You Gotta Be Kitten Me!" is a pet-themed card game sold exclusively at Target. Drawing inspiration from classic bluffing games like Liar's Dice or Coup, it challenges players to be strategic against each other.
-
- The NFL season is well underway, as the contenders are starting to separate themselves from the pretenders.
- Oct 14, 2024 at 08:15 am
- On one side of the coin, the Houston Texans, Baltimore Ravens and Green Bay Packers kept things rolling and extended their winning streaks in Week 6. On the other, the New England Patriots, Tennessee Titans and New Orleans Saints extended their losing skids.
-
- Bitcoin Dips: Unveiling Altcoins Poised to Seize the十月Upturn
- Oct 14, 2024 at 08:15 am
- Bitcoin’s recent performance is sparking debate: will it stumble or soar? As the market sways, opportunities for keen investors pop up. This article unveils top altcoins poised for a potential boost during the October dip.
-
- ETFSwap (ETFS) — The Latest DeFi Altcoin With Growing Investor's Interest
- Oct 14, 2024 at 08:15 am
- ETFSwap (ETFS) is rapidly garnering attention and huge bullish sentiment in the crypto space. Primarily functioning as a decentralized trading platform, ETFSwap (ETFS) allows investors to buy and trade tokenized Exchange Traded Funds (ETFs) with cryptocurrencies in seconds.