Uniswap Raises $700 Million for Layer 2 Scaling Solution – Is Pepe Blockchain the Next Big Thing?
Uniswap, the popular decentralized exchange, has made a significant move in the market by announcing the launch of its new Layer-2 scaling solution called Unichain. This places Uniswap in direct competition with other major players like Coinbase and OKX, who have already introduced their own layer-2 solutions for Ethereum.
The main purpose of Unichain is to enhance the development of decentralized finance (DeFi) products. This strategic move by Uniswap reflects the growing demand for layer-2 scaling solutions in the industry. It also supports the concept of ‘AppChain,’ which suggests that in the future, decentralized applications (dApps) will operate on their own dedicated blockchains instead of sharing a single blockchain like Ethereum’s Layer-1. This shift is driven by the need for better performance, customization, and governance flexibility.
In terms of price analysis, Uniswap’s native token UNI is currently trading at $7.96, experiencing a 2.2% decrease in the last 24 hours. However, the token witnessed a significant surge of 17% following the announcement of Unichain. Currently, UNI is consolidating its position above the 200-day moving average (DMA) at $8.12, with strong support at the 20DMA of $7.14. The convergence of these key moving averages in the near future could lead to a decisive move in the token’s price.
While Unichain presents an exciting opportunity, it may not offer significant profit opportunities for regular investors. This has led many to turn their attention to Pepe Unchained, a new community-led layer-2 solution that provides early-bird opportunities. Pepe Unchained aims to rectify the shortcomings of the original Pepecoin launch by establishing a standalone ecosystem instead of relying on Ethereum’s layer-1. The team behind Pepe Unchained is working on various dApps, including a cross-chain bridge, a block explorer, and a developers grant fund called ‘Frens with Benefits.’ Investors can participate in the $PEPU token presale, which has already raised an impressive $18.75 million. Moreover, investing in the presale allows for instant staking of the tokens with a market-beating 116% annual percentage yield (APY).
It’s important to note that investing in cryptocurrencies is high-risk, and this article is for informational purposes only and should not be considered investment advice.