BPOI Banner
UNI Surges 30% Amid Ongoing On-Chain Development Talks UNI Surges 30% Amid Ongoing On-Chain Development Talks

UNI Surges 30% Amid Ongoing On-Chain Development Talks


Este artículo también está disponible en español.

Uniswap’s UNI has grown in favor of investors as the token continues its upward trajectory in the face of crucial on-chain developments. According to CoinGecko, the token surged 30% since last month, keeping the token on the green zone. With the market’s renewed bullishness, UNI might be on the road for some gains in the short term. 

Uniswap recently announced a development that may enhance user experience in using the platform altogether. Investors are excited as the platform continues to find innovative ways to improve user engagement. 

Related Reading

Gas Abstraction: A Leap For Uniswap UX? 

Across Protocol’s Chief Technology Officer, Matt Rice, and Uniswap’s Staff Software Engineer, Mark Toda recently discussed about the ERC-7702 which, if passed, would introduce a new transaction type known as externally owned accounts (EOAs). In general, ERC-7702 will implement gas abstraction, a feature that would both improve user experience and save users a ton of money in the process. 

According to Mark Toda, the biggest obstacle for gas abstraction to be successfully implemented is authorizing a users address without gas on-chain. 

“…Think about it right now, if you are trying to send some tokens on some random chain and you’re trying to swap out of there or do anything there, right now you need to have a native token to pay the gas…or authorize the contract of some sort to take your tokens,” Toda said when asked about a scenario where a user swaps tokens with no available chains on the platform. 

To put it simply, ERC-7702’s most notable feature regarding gas sponsorship which helps users pay gas fees distinct from their chain of origin. This feature, once ERC-7702 is implemented, will greatly improve cross-interoperability, enhancing user experience. 

UNI market cap currently at $4.6 billion. Chart: TradingView

As of writing, ERC-7702 is still in its draft stage which means the new on-chain goodies featured between Toda and Rice are still subject to revision. Nonetheless, it presents a good future for the Uniswap community. 

UNI: Investors Should Watch These Levels

As of writing, UNI has continued to make ground against the bears in the medium term which places the token at the gates of the $7.518 resistance level. This crucial resistance level might continue to resist in the coming days as the market hits its peak after days of continued bullish movement. 

Related Reading

With this in mind, investors should monitor the token’s movement in the coming hours and days as this may determine the trajectory of the token. If UNI breaks through this crucial resistance level, it opens the door toward $9.012 in the medium term. 

However, if $7.518 remains unbeaten or the bulls breakthrough for a short while before pulling back, it might trigger a downward movement by the bears targeting $5.899 in the medium term. 

Featured image from Pexels, chart from TradingView



Source link

Christian Encila

https://www.newsbtc.com/news/uni-surges-30-amid-ongoing-on-chain-development-talks/

2024-09-29 01:00:14

bitcoin
Bitcoin (BTC) $ 96,340.81 2.49%
ethereum
Ethereum (ETH) $ 3,333.59 5.53%
tether
Tether (USDT) $ 0.999995 0.02%
xrp
XRP (XRP) $ 2.21 6.54%
bnb
BNB (BNB) $ 656.60 5.24%
solana
Solana (SOL) $ 180.89 9.44%
dogecoin
Dogecoin (DOGE) $ 0.312051 9.74%
usd-coin
USDC (USDC) $ 1.00 0.06%
staked-ether
Lido Staked Ether (STETH) $ 3,327.51 5.53%
cardano
Cardano (ADA) $ 0.890789 9.07%
tron
TRON (TRX) $ 0.244444 3.37%
avalanche-2
Avalanche (AVAX) $ 37.20 10.47%
chainlink
Chainlink (LINK) $ 22.01 9.17%
wrapped-steth
Wrapped stETH (WSTETH) $ 3,933.20 5.76%
the-open-network
Toncoin (TON) $ 5.30 5.79%
sui
Sui (SUI) $ 4.40 9.01%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 95,951.71 2.32%
shiba-inu
Shiba Inu (SHIB) $ 0.000021 9.45%
hyperliquid
Hyperliquid (HYPE) $ 32.96 1.14%
stellar
Stellar (XLM) $ 0.351088 9.46%
polkadot
Polkadot (DOT) $ 6.92 9.59%
hedera-hashgraph
Hedera (HBAR) $ 0.250377 10.48%
weth
WETH (WETH) $ 3,331.24 5.53%
bitcoin-cash
Bitcoin Cash (BCH) $ 447.57 4.53%
leo-token
LEO Token (LEO) $ 9.30 0.33%
uniswap
Uniswap (UNI) $ 13.62 7.30%
litecoin
Litecoin (LTC) $ 98.98 6.32%
pepe
Pepe (PEPE) $ 0.000017 8.40%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,512.10 5.65%
near
NEAR Protocol (NEAR) $ 4.94 11.57%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.03%
bitget-token
Bitget Token (BGB) $ 4.13 11.99%
usds
USDS (USDS) $ 0.997873 0.20%
aptos
Aptos (APT) $ 9.25 15.06%
internet-computer
Internet Computer (ICP) $ 9.93 10.28%
aave
Aave (AAVE) $ 296.58 12.22%
crypto-com-chain
Cronos (CRO) $ 0.155311 7.41%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.470704 9.05%
ethereum-classic
Ethereum Classic (ETC) $ 25.82 8.63%
mantle
Mantle (MNT) $ 1.14 14.01%
vechain
VeChain (VET) $ 0.0449 10.96%
render-token
Render (RENDER) $ 7.02 10.98%
whitebit
WhiteBIT Coin (WBT) $ 24.30 1.04%
monero
Monero (XMR) $ 188.76 2.03%
dai
Dai (DAI) $ 1.00 0.06%
mantra-dao
MANTRA (OM) $ 3.56 8.10%
bittensor
Bittensor (TAO) $ 450.46 9.81%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.25 11.35%
arbitrum
Arbitrum (ARB) $ 0.740594 10.91%
filecoin
Filecoin (FIL) $ 4.87 9.81%