18 September 2020 | ZebPay Trade-Desk
Uniswap is a decentralized automated liquidity pool that is established on the Ethereum blockchain. It has been developed to act as a governance protocol. Uniswap will be accessible to all, and will also ease the way in which traders can participate in the financial marketplace. Uniswap is an innovative exchange protocol built on Ethereum. It allows anyone with an Ethereum wallet to exchange tokens without the involvement of any central party.
The recent introduction of UNI serves the purpose of creating a highly sustainable decentralized financial infrastructure that promotes shared community ownership. It is a dedicated governance system that has strived independently thus far to create a protocol that will shape the future of trading.
Uniswap (UNI) Summary (at the time of writing):
| Market Capitalization | $ 857,325,709 |
| Current Price | $ 5.04 |
| 24 HR Volume | $ 3,106,235,157 |
| Script in Circulation | 170,000,000 UNI |
| Total Supply | 1,000,000,000 UNI |
UNI is the native token of the Uniswap protocol, and it entitles its holders to governance rights. Hence, users can vote on the development of the protocol. 1 billion UNI tokens have been mined at genesis. Now, 60% is distributed to the existing Uniswap community, and 40% is available in the marketplace, for traders, institutions and investors.
Uniswap has challenged the status quo, in the sense that there is no order book, or centralized party required to make trades. The protocol uses automated market makers and smart contracts that hold liquidity reserves that traders use to trade against. These reserves are funded by liquidity providers, and hence Uniswap allows its users to trade in the absence of any intermediaries.
There is no listing process involved with the Uniswap network. Essentially any UNI token can be launched provided a liquidity pool is available for traders. Hence, Uniswap doesn’t charge any listing fees. The Uniswap protocol was introduced by Hayden Adams in 2018, and is built on the Ethereum blockchain platform.
Technical Analysis – Weekly Trade Summary
Weekly Price Analysis
| USD ($) | 10 Sept 20 | 17 Sept 20 | Previous Week | Current Week | |||
| Close | Close | % Change | High | Low | High | Low | |
| BTC | $10,343.23 | $10,865.54 | 5.05% | $10,582.36 | $9,819.83 | $11,099.95 | $10,253.00 |
| ETH | $368.06 | $378.88 | 2.94% | $377.90 | $325.66 | $388.25 | $353.38 |
| BAT | $0.2660 | $0.2490 | -6.39% | $0.2770 | $0.2370 | $0.2630 | $0.2370 |
| ATOM | $5.320 | $5.031 | -5.43% | $5.8650 | $4.577 | $5.541 | $4.695 |
| XRP | $0.2433 | $0.2486 | 2.18% | $0.2563 | $0.2300 | $0.2585 | $0.2343 |
Weekly Volume Analysis:
| Cryptocurrency | 1w – % Vol. Change (Global) |
| BitCoin (BTC) | -5.50% |
| Ethereum (ETH) | -2.86% |
| Basic Attention Token (BAT) | -3.73% |
| Cosmos (ATOM) | -1.45% |
| Ripple (XRP) | -1.55% |
Weekly Price Pointers:
| Resistance 1 | $12,087 | $442 | $0.2705 | $6.4 | $0.2768 |
| Resistance 2 | $11,474 | $398 | $0.2580 | $5.7 | $0.26 |
| USD | BTC | ETH | BAT | ATOM | XRP |
| Support 1 | $10,600 | $350 | $0.2467 | $4.84 | $0.2464 |
| Support 2 | $9,825 | $334 | $0.2408 | $4.45 | $0.2398 |
References:
https://academy.binance.com/tutorials/what-is-uniswap-and-how-does-it-work
https://coinmarketcap.com/currencies/uniswap/
Disclaimer : This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptocurrencies viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice.
