In 2021, the use of Uniswap exploded, which had a huge positive impact on the price of Uniswap. Today, the decentralised exchange is an established name in the crypto world with more than $500 billion traded on it. Let's take a look at what we can expect from Uniswap in terms of technology and prices.
Table of Contents
- What is Uniswap?
- Uniswap Price Chart
- Uniswap Price History
- Uniswap Roadmap 2022
- Uniswap price predictions 2022
- Uniswap price predictions 2023 – 2025
- Add Uniswap to your portfolio
What is Uniswap?
Uniswap is a decentralised exchange and is also known as a DEX. Their platform was launched on Ethereum's mainnet on 2 November 2018. As a DEX, Uniswap facilitates trading between ERC20 tokens, which are tokens issued on Ethereum's blockchain. On Uniswap, tokens from Chainlink, Tether and Aave are tradable.
By using smart contract technology and a simple user interface (UI), users can connect to web 3.0 wallets, such as Metamask. This allows you to trade crypto-currencies easily from your internet browser.
Uniswap Price Chart
Uniswap Price History
Uniswap will only be tradable from 2020, which means that the coin of Uniswap, called UNI, does not yet have a long price history. Despite Uniswap's relatively young price history, its price has already established itself in the top 20 cryptocurrencies in terms of market capitalization.
In 2020, a new bull run unofficially began and Uniswap took full advantage of that momentum. Because Uniswap was the first DEX to work so well, the price rose by thousands of percent within a short period of time. To put the price developments of the past two years into perspective, we have compared the all-time highs and all-time lows.
- Uniswap price 2020: Lowest - € 0,15 / Highest - € 8,75
- Uniswap price 2021: Lowest – € 4,14 / Highest - € 48,12
- Uniswap price 2022: (so far): Lowest – € 3,22 / Highest - €17,54
Uniswap Roadmap 2022
Since May 2021, Uniswap is officially called Uniswap v3, which means the third released version of Uniswap. Uniswap v3 offers many new features for the DEX but before we go into that, let's have a quick look back at the previous versions, v1 and v2.
Uniswap was not the first DEX, but it was the first DEX based on the Automated Market Making (AMM) protocol. In the AMM protocol, transactions take place by means of smart contracts and liquidity pools. A mathematical formula then determines the price of the tradable assets. Liquidity providers add liquidity to the pool so that there are enough currencies to be traded.
Uniswap v1 soon proved a success, but there were flaws. The user interface and experience were not well optimised. In addition, users had to pay a high transaction fee when they wanted to trade between ERC-20 tokens.
Uniswap v2 solved these problems by improving the interface and user experience. In addition, ERC-20 pools were added to the platform, allowing users to now trade between ERC-20 tokens for a much lower fee.
The second version of Uniswap also implemented important functionalities, such as price oracles, flash swaps and protocol fees. The protocol fees are very important for the development of Uniswap, as 0.05% of all transactions go to the development of improvements for the platform.
Uniswap has become extremely popular in a short period of time, and this has ensured that the development team had a well-stocked pot to make improvements. The most important thing they have added in v3 is Concentrated Liquidity.
Concentrated Liquidity allows liquidity providers to construct unique price curves based on their preferences. This centralizes the liquidity pools to some extent but, in return, increases liquidity at the desired prices.
Competition & Ethereum 2.0
Uniswap has developed a protocol that is accessible to users with low transaction fees (unlike Ethereum transaction fees). In addition, they continue to use 0.05% of the transaction fees to further develop the platform. This makes Uniswap a very interesting platform as soon as more users from developing countries and the like join, because of the low fees.
Uniswap has recently gained some formidable competition. Dexes such as Sushiswap and Pancakeswap, which, funny enough, almost bear the same name, have entered the market. In a number of areas, they operate better than Uniswap, for example in terms of transaction speeds.
In addition, Uniswap suffers from the high gas fees on the Ethereum network. Because of this, transaction costs are sometimes bizarrely high, which makes trading tokens more tedious. This makes Uniswap dependent on Ethereum's roadmap. As mentioned in our Ethereum forecast, Ethereum is now in the process of developing Ethereum 2.0, which should solve major problems such as skyrocketing gas fees. Should the implementation of Ethereum 2.0 be successful, it will provide an additional boost to Uniswap's platform and its value.
Uniswap price predictions 2022
With cryptocurrencies comes price predictions, and that includes Uniswap. Although price predictions are an almost impossible task in the volatile crypto world, there are plenty of price forecasting companies which can provide price predictions through algorithms and technical analysis.
The first price forecasting company is Changelly. As the value of Uniswap has dropped significantly in 2022, Changelly expects that the price will not increase much this year. Changelly expects Uniswap's price to reach its highest point in December 2022. Uniswap is then projected to fluctuate between $5.86 and $6.71.
CryptoNewsZ expects a more optimistic price for Uniswap in 2022. They expect the price to fluctuate between $12 and $15 by the end of the year. This prediction is based on the year 2021, when Uniswap's price was very bullish.
Trading Education expects Uniswap's share price to fluctuate around $28.44 in 2022. This amount is based on a bull run in 2022. In addition, Uniswap would reach a maximum value of $31.96 and a low of $17.90.
CoinQuora has both a bullish and bearish price expectation in 2022 for Uniswap. Should Uniswap exceed all expectations, CoinQuora expects that in the most bullish scenario Uniswap could reach a price of $44.81 per UNI. In the most bearish scenario, the price of UNI is expected to be able to drop to $4.72.
|Changelly||2022:||$5,68 - $6,71|
|CryptoNewsZ||2022:||$12,00 - $15,00|
|Trading Education||2022:||$17,90 - $31,96|
|CoinQuora||2022:||$4,72 - $44,81|
Uniswap price predictions 2023 – 2025
Determining Uniswaps price predictions for 2023 - 2025 is an almost impossible task. There could be some important changes in crypto-industry scenarios, market positions, macro-economic factors, policy restructuring or any other political reason for the coin to fluctuate in price. Therefore, we would like to indicate that the following price forecasts are only a prediction and should not be taken for granted.
Changelly expects the minimum price of Uniswap to be around $8.72. The maximum expected UNI price may be around $10.26. In 2024, Changelly expects the price to increase substantially again. The minimum price is set at $12.52 and the maximum price at $15.20. In the following year, 2025, the price is expected to rise to a minimum price of $18.03 and a maximum price of $21.72.
CryptoNewsZ sees Uniswap as a resilient cryptocurrency that will quickly recover from the 2022 bear market. Therefore, they expect the price of Uniswap to have a minimum price of $14 and a maximum of $17.20. In 2024, the price of Uniswap will slowly consolidate and would reach a maximum of $18.50. Then, in 2025, the price is expected to increase further to a maximum price of $23.
Trading Education assumes a bullish scenario for the Uniswap predictions of 2023 -2025. In 2023, they expect the price of Uniswap to surpass its all-time high of $42 and reach a value of up to $52. In 2024, new UNI tokens are expected to come on the market, this combined with bitcoin halving should lead to Uniswap reaching a price value of $85.55. In 2025, the price is predicted to rise much further and Uniswap could even reach a value of $170 per UNI in an extremely bullish scenario. In a less bullish scenario, Uniswap's price would reach $80 per UNI.
CoinQuora is also highly positive and assumes a bullish scenario. If the bullish trend picks up in 2023, Uniswap could reach values up to $8. By 2024, depending on the latest developments and upgrades, Uniswap could rise to a value of $100 USD. The price of Uniswap is expected to keep rising and could reach a value of $150.