The leading decentralized exchange Uniswap UNI, the native token of , is benefiting from the market recovery, rising over 10% in the last 24 hours. While the price is at $7.63, the market value is around $4.54 billion. The weekly increase has already exceeded 15%.
Trading volume for UNI also increased by 62% in the same period, paralleling the performance in price. Interestingly, this increase in trading activity appears to be in contrast to the movement in the coin’s overall circulating supply, which has seen a slight decrease of 0.37% in the past week.
As a result of this trend, UNI’s current circulating supply stands at 753.77 million tokens, accounting for approximately 75.38% of its maximum supply capped at 1.00 billion tokens.
As Koinfinans.com reported, one of the reasons for the increase in the price of Uniswap’s native token was the foundation’s announcement of the v4 version. According to the announcement, Uniswap v4 will go live in the 3rd quarter of this year. The first draft of Uniswap v4, announced last year in June 2023, introduced the concept of “hooks”.
These hooks provide a solution to the flexibility problem often associated with traditional smart contracts by empowering developers to add custom logic at certain points. This feature allows dynamic adjustments and facilitates various use cases. For users, the implementation of hooks promises potentially lower fees, advanced asset management strategies, and access to innovative features such as instant swaps.
In conjunction with Ethereum’s Dencun upgrade, expected in March 2024, several Ethereum Improvement Proposals (EIPs) will be activated, including EIP 4788, EIP-1153, and EIP-4844. Particularly important for Uniswap v4 is EIP-1153, which will introduce temporary storage. This development will enable developers to optimize smart contracts for more complex functions.
Uniswap Scammers at Work
Those who want to commit fraud using the decentralized exchange have also been increasing recently. Founder Hayden Adams reports that various scams are being carried out with wallet addresses masquerading as Ethereum Name Service domains. warned.
first time I’ve seen this scam, so posting it as a heads up for users and interfaces
“someone bought the ens”[myEthereumAddress].eth”
so when you paste in my address, the top result in some UIs is an ens match instead of the resolved ENS name
impt for UIs to filter these out pic.twitter.com/0cQAL5tQ0T
— hayden.eth 🦄 (@haydenzadams) February 14, 2024
