In a recent update, Uniswap announced it outperformed others DEXs in terms of market share on the Arbitrum network.

While UNI’s Total Value Locked (TVL) failed to show impressive growth, the alt has been doing well on the price charts for the past seven days.

Now the most pertinent question is: Can Uniswap maintain its dominance in the DEX space?

Here are AMBCryptos Price prediction for Uniswap for 2022-2023

Turn up the volume

According to the tweet, Uniswap reached an all-time high of 78.7% of the market share on Arbitrum. As can be seen in the image below, Uniswap has dominated most of the market compared to other DEXs.

Source: Uniswap

Further, according to DefiLamathe average TVL for Uniswap was about $5.2 billion with minor fluctuations.

However, the number of fees for transactions on the Uniswap network has grown somewhat in recent days.

As can be seen from the chart below, there has been a significant increase in fees since October. At the time of going to press, total compensation was $1.5 million in the past 24 hours.

Source: DefiLama

That being said, UNI witnessed an increase in the MVRV ratio metric in recent weeks. This could be interpreted as a bullish sign by many potential investors.

Another positive indicator for the Uniswap protocol could be the weighted sentiment metric that has supported the network’s overall growth.

Additionally, Uniswap’s speed recently spiked, indicating that the UNI token has been going over addresses quite frequently in recent days.

Source: Santiment

Meanwhile, UNI grew 4.36% in the past 24 hours. One of the reasons for this growth can also be attributed to whales.

Whale Statisticsan organization dedicated to tracking crypto whales, stated: that on October 5, UNI was one of the most widely used smart contracts in the top 100 ETH whales in the past 24 hours.

Even though the future looks bright for UNI, traders should investigate other aspects of the token before taking a position.





This post UNI holders would be happy to go long after reading this update

was published first on https://ambcrypto.com/uni-holders-would-be-happy-to-go-long-after-reading-this-update/

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