UNI, the native token of the decentralized exchange Uniswap, has surged by 9%, making it the top gainer in the crypto market today. At the time of writing, UNI is trading at $10.69, up 8.5% over the past day. Notably, the trading volume for UNI has dropped by 31% in the same timeframe, indicating that current holders might be holding onto their tokens in anticipation of further price increases.

Meanwhile, Uniswap’s market cap has risen to $6.4 billion, making UNI the 18th largest crypto asset. This upward movement follows a new post from Uniswap on June 14, stating, “Locked in. Ready for the Endgame,” accompanied by an image suggesting significant developments are on the horizon. Another post from June 1 hinted at Uniswap v2 preparing to support a new Layer-2 blockchain.

Locked in. Ready for the Endgame.

Although the specific Layer-2 protocol was not disclosed, speculation within the crypto community leans towards ZKsync, known for scalable and low-cost Ethereum transactions. However, some community members have voiced concerns about this potential deployment.

Another factor driving UNI’s recent price surge could be the significant growth in Layer-2 volume processed through the Uniswap Protocol. According to a June 13 post by Uniswap Labs, it took 22 months to hit the $100 billion mark, 10 months to reach $200 billion, and just 3 months to surpass $300 billion. This rapid growth highlights the increasing use and adoption of Uniswap’s services in the decentralized finance (DeFi) sector.

In addition, Uniswap v2 pools are gaining traction on various Layer-2 solutions like Optimism, Arbitrum, and Polygon. These platforms are favored for their scalability, reduced transaction fees, and improved user experience. The integration of these Layer-2 networks with Uniswap is enabling faster and more economical transactions, making them strong contenders in the evolving crypto landscape.

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