Analyzing the impact of Gen Z on cryptocurrency market in 2023

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With the cryptocurrency market gradually taking its first steps out of a battering bear phase, notable progress in altcoins is becoming evident. This is a key milestone for such developers, while smart contracts still have their detractors. Today, the focus is Uniswap.

Uniswap’s Remarkable Trading Volume Achievement


The Uniswap team recently announced that the trading volume for their DeFi protocol has passed 1.7 trillion dollars in all time, a rather impressive achievement. All activities across Uniswap’s iterations are covered in this volume. According to an analysis by DefiLlama, Uniswap’s daily trading volume is still strong and stable.

Like most major centralized exchanges, the protocol’s daily volume has stabilised above 1 billion dollars. Pushing back the negative October dip where TVL (Total Value Locked) fell to 3 billion dollars from January’s 3.3 billion, November was a different story altogether.

The TVL of Uniswap, at the time this article was written, stood well over 4 billion dollars. Following the FTX collapse, interest in DeFi has been keenly observed. Therefore, platforms like Uniswap will be increasingly important during the bull market that is on its way.

Current and Forecasted Price Trends of UNI Coin


At present Bitcoin is fighting to break $ 42,000—the first red candle in weeks. Unless there is an unforeseen development, the recent correction may deepen in next week. A third successful breakthrough of old tough resistances by the Bitcoin would be quite a surprise.

As for UNI Coin, the price was marked at 6.15 dollars. The key support level on the daily chart is at $ 6, and everyone watches to see if it will fall. Falls below this point could bring prices back to 5.6 and 4.84 dollars respectively.

On the other hand, should Bitcoin rebound to around 460 dollars from today’s levels of about a quarter that value in China (3.95 cents), then UNI Coin may advance towards its next goal posts at prices of 7.15 and 7.62 dollars respectively

Disclaimer: This article is for informational purposes only, and does not provide investment advice. As cryptocurrencies are extremely unsettled and risky, investors should do their own in-depth research.

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Disclaimer: All content found on thecryptotime.com is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

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