DotBig: Forecast for Uniswap
Two years ago, people started talking about the Uniswap exchange. The reason that rocked the DeFi sector was that the project released its token under the UNI ticker symbol, which happened on September 17, 2020. Trades were opened at the point of $1.10. Its value started surging quite rapidly, and by December 2020, the market cap grew up to $1 billion. As of today, the digital asset is valued at around $6, and its market cap exceeds $4.5 billion.
Today, we will introduce you to the history and the concept of the network and will tell our price forecast based on technical data. Let’s get down to business.
A short introduction to UNI
November 2018 is considered the month of the Uniswap launch. It runs on Ethereum. Its cryptocurrency is applied as an instrument delivering the possibility to vote, take part in the creation of dApps, etc. UNI is also an investment instrument, which is now available on all major crypto exchanges you can even think of.
If you take a look at the history of UNI’s price charts, you’ll see that its performance was quite impressive at the beginning. By February 2021, it reached the point of $30 per token. Throughout several months, it has dropped to its current price. If you are curious about what the next movements will be, keep reading and you’ll learn this from the following abstract.
Now, let’s focus on the reasons for the success of Uniswap at the beginning:
- Uniswap is considered one of the simplest platforms for beginners.
- Uniswap offers access to the Metamask wallet, which is often considered one of the safest and the most convenient solutions to access Ethereum.
- Uniswap enables its participant to fully control their keys.
- The Uniswap isn’t an intermediate exchange, it’s an open-source space for developers. This makes the processes here smoother and more independent.
To cut long story short, no one doubts the reliability of this exchange. And what about its native token? What are the expectations of DotBig analysts?
Is it bullish or bearish in 2022?
To answer these questions, our experts conducted technical analyses of the cryptocurrency based on its fundamentals and previous performances. As we expected, by September 2022, UNI reached $6. What will happen in the following periods?
- By December 2022, we expect the UNI price to hit $7. It won’t remain stable throughout the entire month but we predict that the value won’t fall lower than $6.15.
- UNI investors are interested in when UNI will recover its price in February 2021. Considering the fundamentals and the previous performances, we expect this to happen no sooner than 2025. In three years, we expect the cryptocurrency to reach the maximum of $36 and fall not lower than $30.
- Technical analysis shows that 2026 might become a breakthrough year for this DeFi instrument. DotBig analysts consider that in 2026 the price of UNI will start surging significantly. The constant growth might lead the price charts to the point of around $200–210 in 2030.
Data, received from our technical research, say that the UNI investors have a great chance to make gains on returns from the long-term perspective. Even though, keep in mind that this is just our prediction and we don’t motivate you to do anything on the crypto market.