Uniswap's Token UNI Surges Over 3% in a Day Amidst a Strong Weekly Uptrend

In the span of the last 24 hours, the cryptocurrency Uniswap (UNI) has seen a 3.55% increase in its UNI/USD value, reaching $10.84. This upswing is part of a broader weekly pattern of growth, with UNI amassing a 45.0% gain since its previous price of $7.47. The token presently hovers quite a distance from its peak value of $44.92.

Market Movements and Analysis

Analyzing Uniswap's recent price action, the past week's strong performance is evident. Various technical indicators, such as the Bollinger Bands—a popular tool used to gauge market volatility—illustrate the price changes and the extent of price fluctuations over both daily and weekly timescales. A widening of these bands typically suggests an increase in market volatility.

Volume and Supply Statistics

Traders have shown escalated interest in Uniswap with a 201.0% surge in trading volume over the last week. In the same timeframe, the circulating supply of UNI has incrementally risen by 0.02%, totaling over 753.77 million tokens, which accounts for roughly 75.38% of its total possible supply of 1 billion tokens. When it comes to market capitalization, UNI ranks #17 with a valuation of $8.16 billion.

Uniswap, Cryptocurrency, Growth