Uniswap price is currently at $5.30, down from December highs. However, potential catalysts including Unichain’s rising market share and a bullish chart pattern suggest a possible price surge. Unichain recently surpassed Ethereum in active metrics and transactions. Despite competition, Uniswap maintains a significant market presence and revenue, hinting at a potential rebound for UNI.
Uniswap’s price could see noticeable growth as the emerging Unichain network surpasses Ethereum, Polygon, and Sei in key performance metrics. Currently, Uniswap (UNI) is lingering around $5.30, a staggering 72% decline from its peak in December. Nevertheless, two potential catalysts are in the mix—Unichain’s market share increase and a distinct megaphone chart pattern that could lead to a short squeeze.
Recent data shows that Unichain has made a strong entry into the market since its launch. With over 3.285 million active addresses in the past week, it stands as the sixth-largest blockchain, surpassing notable players like Ethereum (ETH) and Polygon (POL). Active transactions surged by 121%, now at 9.48 million, while network fees rose 84%, hitting 8.6k.
Moreover, performance indicators from DeFi Llama reflect Unichain’s growing dominance in the decentralized exchange sector. In just a week, it processed $1.7 billion in tokens—36% more than the previous count—bringing its monthly tally to over $3.2 billion. This growth is particularly impressive considering Unichain launched only in February.
Despite facing increased competition, Uniswap retains a significant foothold in the decentralised finance space. In the last 30 days alone, it processed transactions worth $61.4 billion, surpassing both PancakeSwap and Raydium when combined. This steady growth has resulted in substantial revenue, with TokenTerminal reporting that Uniswap generated $328 million this year, outpacing Ethereum’s $242 million.
Technically, Uniswap’s price chart reveals a noteworthy pattern. As it hovers around the crucial support level of $5, this price has held firm throughout the year, connecting the lowest points since June 2022. The formation of a broadening wedge pattern—often termed a megaphone—suggests a bullish outlook for the token.
Should these trends continue, Uniswap’s price may rebound in the next few weeks, eyeing a target of last year’s high at $19.30. That would reflect a 255% growth from where it currently stands. However, a breach below the wedge’s lower edge could reignite fears of further losses ahead.
