The price of Uniswap shocked the cryptocurrency market by diverging from more general optimistic signals. This is probably because Hayden Adams, the creator of the protocol, changed it last week, and that’s what was anticipated.
Profitable new Uniswap interface charge
Hayden Adams, the founder of Uniswap, declared on X, a platform that was once Twitter, that a new swap fee, also called an interface cost, would be added to the protocol. The pricing schedule became active on the mainnet following its announcement last week. This price managed to accrue more than $524,457 in a little over seven days.
The swap of Ethereum with Optimism accounts for the majority of this value; Polygon (MATIC) and Arbitrum also make significant contributions. Uniswap’s interface charge is among the lowest in the market, with founder Adams making it plain from the start at 0.15% of the output token amount.
He continued,
We will be able to carry out more research, development, construction, shipping, enhancement, and growth in the crypto and DeFi space.
At the time of the announcement, investors had mixed feelings about the fee because many saw it as Uniswap’s technique of collecting money from users and nothing more than a tax. The fact that Uniswap’s price dropped during a period when the whole cryptocurrency market was rising indicates that this mindset is still prevalent.
Uniswap’s pricing decreases
As of this writing, the price of Uniswap is trading at $4.09, down more than 6.82% in just two days. With Bitcoin selling well over $34,000 at the time of the crisis, the rest of the market was experiencing positive growth.
The Relative Strength Index (RSI), which is below the neutral line at 50.0, is another indicator of the bearish turn of events. The fact that the indicator is in the negative zone implies that UNI may experience additional lows. The altcoin might reach new lows for 2023 if it falls below the important support level, which is now at $3.99.
The Uniswap price would have another chance to rise to the $4.47 resistance level, though, if it were to rebound from the $3.99 support level. By accomplishing this, UNI would refute the bearish argument and turn the 100-day Exponential Moving Average (EMA) into a support floor.
