Big moves are happening in crypto this week.
Uniswap’s (UNI) latest update has sparked some serious chatter, and the token is seeing a significant price pump.
Meanwhile, traders are also keeping an eye on meme coin DeFi project Crypto All-Stars (STARS).
It’s now raised $2.1 million in presale – with some speculating STARS could be next to rally.
UNI Price Rallies as Open Interest Spikes 21%
Uniswap has had a wild week.
UNI is now trading at $8.03, the highest in nearly three months.
It’s up 15% since Tuesday’s low, though it did give up a bit of ground after peaking earlier today with a 20% surge.
The hype around Uniswap right now is evident in the numbers.
UNI is ranked highly on CoinMarketCap’s trending cryptos list, and the token has also snagged 12th place among the most traded cryptocurrencies.
Open interest has also spiked 21% to $114 million, a level not seen since mid-June.
All of this has occurred while the crypto market is still reeling from the losses earlier in the week.
Clearly, investors are still prepared to gain exposure to UNI, believing its price will continue rising despite the broader conditions.
Top trader InvestingHaven on Twitter even speculated UNI could “pop off.”
With the bullishness showing no signs of slowing, Uniswap might be on track to hit the $10 mark sooner than most had anticipated.
Unichain Launch Drives Uniswap’s Price Growth
So, what’s behind Uniswap’s jump?
The main reason is that the developers just rolled out Unichain, its new Layer-2 solution.
And it could shake up the DeFi space in a big way.
According to reports, Unichain could cut transaction fees by up to 95% compared to Ethereum’s mainnet while speeding things up with block times as low as 250 milliseconds.
To put that in perspective, that’s like upgrading from a dial-up connection to fiber-optic speeds.
But there’s more to Unichain than just speed and lower costs.
Unichain is part of the Optimism Superchain, which aims to connect different blockchains and make DeFi more seamless.
Investors are clearly pumped about this, with Uniswap’s testnet now live and the mainnet on the way.
Unsurprisingly, this has been the main reason for all the UNI token demand.
It’s another example of how tech developments can quickly boost investor enthusiasm in the crypto market.
Crypto All-Stars Also Gains Traction as DeFi Meme Coin Raises $2.1M in Presale
Alongside Uniswap, Crypto All-Stars is also making headlines with its new MemeVault platform.
MemeVault offers something completely new.
Unlike most meme coins, which rely on hype alone, Crypto All-Stars offers real utility, allowing traders to stake their favorite tokens.
The concept is simple: using MemeVault, traders can lock up popular meme coins (like DOGE) to earn rewards.
These rewards are paid out in STARS tokens.
This makes MemeVault a one-stop shop for meme coin traders looking to maximize their earnings.
Instead of the hassle of managing different staking pools, traders can streamline the process, making earning yields much easier.
This approach is catching on fast.
Crypto All-Stars’ presale has already raised $2.1 million, with investors able to buy STARS tokens early for $0.0014947 each.
More than 2,700 people have piled into the project’s Telegram group in response.
With this kind of momentum, Crypto All-Stars might be preparing for a massive DEX launch later this year.
YouTuber ClayBro thinks that is the case.
In a video released yesterday, he highlighted the “huge surge in demand” for STARS ahead of meme coin season.
And given that the demand is only increasing, there’s a chance STARS could follow Uniswap’s lead and rocket once it hits the open market.
Visit Crypto All-Stars Presale
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