Uniswap (UNI), the native token of the eponymous automated market maker, has change into the primary decentralized finance (DeFi) token to interrupt into the CoinMarketCap prime 10. The cryptocurrency is up over 52 % in lower than per week.
With its market cap surpassing $16.6 billion, it’s now considerably larger than Litecoin (LTC), which is at the moment value $12.5 million.
The DeFi token is now simply a few billions away from surpassing Ripple-affiliated cryptocurrency XRP whose rally has been thwarted by the blockchain’s firm regulatory troubles.
UNI is but to achieve a brand new excessive
Nonetheless, UNI is but to achieve a brand new all-time excessive after touching its present peak of $33 on February 21.
Uniswap is at the moment the biggest decentralized alternate, with its Binance Good Chain-powered archrival Pancake Swap being in an in depth second place, in keeping with CoinGecko knowledge.
The forthcoming launch of Uniswap v3 is anticipated to extend its momentum, however little to no details about the brand new alternate is obtainable as of now. It’s broadly anticipated to deal with Ethereum‘s exorbitant charges with a Layer 2 scaling answer.
