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Uniswap Price Index - Real Time Price Graph

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Uniswap (UNI)
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Author: Saad Ullah

Uniswap has its roots in a concept described by Vitalik Buterin wherein he proposed a decentralised crypto exchange that would use smart contracts coupled with on-chain automated liquidity that would enable easy and trustless swapping of ERC-20 tokens. Uniswap was created by Hayden Adams, a mechanical engineer in 2018. The current iteration, Uniswap v3, offers a fine-tuned control over price rangers and multiple fee tiers.

Uniswap is powered with its own ERC-20 token the UNI, It primarily acts as a governance token to the protocol, allowing voting by all stakeholders on the future activities and direction of the platform.

Where to Buy Uniswap?

Uniswap’s UNI token is one of the most popular ERC-20 tokens and is easily available on various platforms. If you intend to buy UNI, we suggest that you use a regulated platform as this will be far better than going to a shady platform and running the risk of losing your money. Following is a list of reputable brokers you might want to consider.

A Brief History on the Price of Uniswap

As a DEX, Uniswap has been popular since its inception. The ability to exchange tokens without needing to hand over the assets to a centralised platform has been its core offering. A perfect example of decentralised finance, Uniswap v3 today stands at the top in DEXs according to CoinMarketCap. Below, we will inform you of the events and progression of Uniswap over the years.

Key News for Uniswap

While cryptocurrencies such as Bitcoin and Ethereum have enabled millions of people to enter a new age of financial systems, there was a gap as capturing price differences of these coins meant ironically using centralised exchanges. The creation of Uniswap started a new revolution where people could exchange their ERC-20 tokens without ever needing to hand over their assets, the swaps occurring through smart contracts.

While the original Uniswap was a proof of concept, an improved Uniswap v2 was launched in May 2020 that included proper ERC-20 token swaps, pricing oracles and other improvements. As Uniswap garnered attention from users and traders, so did it catch the attention of scammers. As a DEX, Uniswap allows anyone to list tokens and bad actors were quick to leverage this and started using fraudulent tokens that they posed as real ones from different crypto projects.

If the fraudulent token listing wasn’t enough, the platform went through a flash loan exploit where traders were able to walk away with more than $370,000 in USDC stablecoin.

Though Uniswap saw interest from its inception, the real jump it witnessed was at the start of 2021. With the world gripped in an economic meltdown due to COVID-19, people hastily turned their attention towards cryptos. An automated market maker, Uniswap allows people to add their assets in different pools. These pools in turn help users exchange their assets without the need of a buyer or seller to be present on the other side of the trade. Liquidity pool providers are rewarded with a set percentage of the trade fee. This created a whole new income source for people who were affected by the worldwide economic and financial crisis. The surge of users led to the first major UNI price increase.

With the DeFi sector offering a lot better options than savings, the surging prices delivered profits far better than any other traditional investment. The ability to earn a passive income also contributed to the demand for UNI tokens as it peaked at $44.69 on 3rd May 2021, with a 24-hour volume surpassing $1.2 billion. The hype finally started to wane soon after a few days and the resulting crypto crash saw UNI tumbling down to mere $15.49 twenty days later.

Uniswap has also been caught in the crossfire of the recent rise in regulatory control over crypto assets. Uniswap Labs, the company that was founded to create and run Uniswap, has forcibly delisted 100 tokens from the protocol, most of these being what would be classified as securities by authorities. 

Uniswap Timeline

  • September 2020:

While Uniswap allowed for a trustless swap of ERC-20 tokens, it did not have a native cryptocurrency. The UNI token was finally launched on 16th September 2020. With a maximum supply of 1 billion, more than 60 million were distributed to users as rewards and airdrops. UNI allowed the Uniswap protocol to become a DAO, where users were given the ability to use the UNI as governance tokens and vote for future changes and additions to the protocol. (UNI price achieved $7.10 in a few days of being launched.)

  • October 2020:

Uniswap average daily trading volume crossed $220 million. (UNI price remained between $3 and $3.5)

  • January & February 2021:

UNI crossed the $10 barrier for the first time in January 2021. DeFi had started to gain momentum with UNI also enjoying the rise. (UNI price sharply increased to cross $30 in February).

  • March 2021:

Uniswap v3 launches on 23rd March and experiences massive trading. (UNI price crosses $35).

  • May 2021:

The DeFi boom enabled the token to reach its all-time high of $44.92, followed by a global crypto market crash with nearly every token losing roughly half of its value. (UNI was no exception and dipped down to as much as $15.14).

  • June 2021:

A proposal is forwarded to set aside UNI tokens for a fund for political lobbying to educate lawmakers on the benefits of blockchain and crypto. ConsenSys, the largest Ethereum solutions provider, supports it. (UNI mostly stable at $27.3)

Compare Uniswap with Fiat Currencies, Commodities and Crypto

The Uniswap protocol did not have its own token initially, the concept being to have a token exchange that can run without the need of intermediaries or in a centralised manner. In line with a decentralised philosophy, the UNI was launched as a governance token that allowed users to take part in the future developments of the platform. Offering a share in governance and its unique status as the exchange token, UNI is in demand and has risen in value over time with profitability.

Compare Uniswap with the US Dollar

The US dollar is a globally accepted currency and is highly sought after due to its higher value retention and financial prowess. Yet like all fiat, it is part of a central monetary system under the control of the Federal Reserve. It has complete control over its issuance and can set the value and inflation rate (which it does every now and then). A recent example is an influx of trillions of dollars done under the US government’s coronavirus relief fund.

While the US dollar is inflating, the UNI token is not. It is hardcoded to have only 1 billion coins. As the popularity of the protocol increased, more users joined the network and started to acquire UNI. The rising demand resulted in increasing prices while the US dollar only kept slipping low. As such, the UNI token offers a very lucrative investment

Compare Uniswap with Bitcoin

Bitcoin is always considered a market leader in the crypto sphere as it is the first cryptocurrency. Created by Satoshi Nakamoto, today many tokens emulate it. Bitcoin does lead the crypto market in terms of price per token and overall market capitalisation, offering much larger profits compared to traditional investments. However, UNI’s history paints a different picture in terms of profit percentage.

Take only 2021 in context. On January 1st, BTC was touching $29,032 while UNI hovered around $5.22. Bitcoin hit its all-time high in April, going as high as $64,000. At that same time, UNI was just $34.37. Yet, if you look at the percentage hike, Bitcoin did only 220% while UNI did three folds better, increasing its value by 658%.

Even in the ending days of July, with the prices much lower, the YTD percentage rise is still better with UNI gaining nearly 350% while BTC trails a mere third of it (136%).

Compare Uniswap with Ethereum

The Ethereum network represents the second generation of blockchain technology and differs from Bitcoin as it allows anyone to create their own tokens. Coupled with smart contract functionality, its demand has increased as it has thousands of tokens running on its blockchain and also allows leveraging DeFi capabilities. Even the UNI token itself is an ERC-20 compliant one and also runs on Ethereum.

Even after being the 2nd largest network around, Ethereum’s profitability is still far less than UNI’s. If you had bought both coins on 1st January and sold both when ETH hit its all-time high on 12th May, UNI profits would have outpaced it (745.8% UNI profitability compared to Ethereum’s 589.7%).

Compare Uniswap with Gold

Precious metals are preferred as both hedge options and as investment assets for profits. Many commodities are sought after investment options with gold leading the pack. In times of turmoil, it has always been preferred as it tends to appreciate in value whenever economies take a downturn and COVID-19 was no different.

Gold was already at a high price at the start of 2021, with the opening at $1,887 per troy ounce. While DeFi saw a rapid rise in the spring and summer, Gold took an opposite turn, reaching its lowest of $1684 on April 1st. With it bouncing back to nearly $1,800, overall this year it hasn’t hedged wealth nor provided greater chances of profits. On the other hand, UNI has left it in the dust, with a 350% YTD profit.

Uniswap Future Price Predictions

Trustless token swaps powered by secure smart contracts provide the ability to earn by taking part in different automated liquidity pools for passive earning. This has boosted Uniswap to be the most sought after DEX and consequently, the UNI token price has also reached a good price.

As cryptos get more mainstream, there will always be demand for a DEX and Uniswap will keep growing, creating a handsome situation for the protocol’s token. Let’s break it down and see what will be influencing its price in the future.

Uniswap Price Predictions for 2021

Even with DeFi being strong at the start of summer and starting to wane a bit now, many experts are predicting a DeFi Summer 2.0 just around the corner, meaning that the UNI token may still have another rally before the year is over. 

The global economy is also opening up as more and more people are getting coronavirus vaccinations and the threat is mitigating. Even then, the global economy is ravaged, especially the big industrial and commercial powers. Even a recent report by the Federal Reserve is very conservative and even with an improving situation, talks about a possible rise of inflation. If the inflation does rise, this will only propel people to invest in cryptos and as evident from comparison done earlier, Uniswap will be a choice of many as historically it has seen larger gains than even Bitcoin.

Uniswap Price Predictions for 2022

There is a chance of a bit of a slump in 2022 for UNI as more and more industries and economies start gathering steam. However, it is unlikely that this will have any long term effects on Uniswap as the DeFi sector has already proven that investing in cryptos is more likely to have better profitability than other options and the interest will generally keep on increasing.

Another factor that may come into play is that as regulations become harder, exchanges will need to comply with newer and tougher rules. The Uniswap team has already shown their commitment towards this by preemptively delisting around a hundred tokens that were either tokenised securities or fell under that category. This will bolster the position of Uniswap and its UNI token.

According to some analysts, UNI will experience an overall positive growth and it expects the price to be in the $70—$94 range as 2022 closes. 

Beyond 2022 for Uniswap

Since UNI is relatively new, it is difficult to accurately rely on historical price movements to make a prediction that will come true. Even then there are a few factors that can influence the price to go further up.

Two years down the road, the deflationary nature of UNI will start to play its role in a larger capacity. With increasing users and a limited supply, the price will only be pushed up. As a governance token, UNI token holders keep on setting up different proposals that will allow the users to keep their profits ratios high. This should ensure a steady rise in new users that will only bolster the demand and price.

Since the Uniswap protocol allows anyone to set up a token swap, the platform will always remain on top of the latest coins that capture the interest of the public and the resulting liquidity pools will give users the chance to keep their passive earnings rolling as they become liquidity providers.

Uniswap Price Conclusion

An innovative project that has changed the crypt trading and investment industry, Uniswap continues to gain ground and as a DAO, the UNI token is more than just another one. As a governance token, UNI is designed to create a demand and supply gap that only pushes the value upwards. 

Yes, the token does show the same volatility cryptocurrencies are infamous for, but ups and downs happen in any investment. While you may see prices temporarily dipping, this can be used to your advantage to buy low and eventually sell high. 

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Frequently Asked Questions

  1. As a decentralised exchange that is created on top of Ethereum, it currently only accepts ERC-20 compatible tokens. You can however register on a centralised exchange that does have a UNI/BTC pair to buy the token.

  2. Even as a DEX, Uniswap will have a charge for swaps as this is the transaction fee to process transactions on the blockchain.

  3. Yes. You can deposit in compatible liquidity pools and earn a portion of the transaction fee.

  4. No. These are different versions of the protocol. Both have the same UNI token.

  5. You can place any proposal to minted token distribution and adjust fee structures. You first need to place a proposal and if enough tokens are committed, your proposal then gets forwarded for public voting.

  6. You can always create a liquidity pool using a web3 compatible wallet and ETH (for the initial fee). When created, you can add your tokens and enjoy a portion of all swap fees.

  7. When you deposit tokens in a pool, special Liquidity Provider tokens are issued to you as proof of your staked assets. When you want your tokens back, you must return the LP tokens which will be burnt.

  8. Since each swap has to be written on the blockchain, there is a delay and the price can change during that time. Use the advanced settings before a swap to set your price slippage tolerance.

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