The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

Uniswap Labs just revealed the launch of its Unichain.

Uniswap, the leading decentralized crypto exchange, has announced plans to launch its own Layer-2 network, Unichain. Built on the Optimism Superchain, Unichain aims to enhance speed, efficiency, and cross-chain interactions.

Uniswap announced the launch of a native L2 chain built as part of the Optimism Superchain. UNI rallied after the news, reaching a one-month peak at $8.39.

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The app chain promises faster and cheaper transactions and cross-chain interoperability, according to Uniswap.

TL;DR Uniswap launches Unichain, a Layer 2 network designed to improve DeFi efficiency. It uses Optimism Superchain technology, facilitating interoperability between multiple networks. Implements a trusted execution environment (TEE) to improve transaction speed and transparency.

Decentralized exchange Uniswap‘s UNI token surged following the announcement of Unichain, the platform's Ethereum layer-2 network. Data from CryptoSlate shows that UNI rose over 12%, reaching $8.07—the highest it's been in three months.

Decentralized exchange Uniswap is expanding in a way no one imagined. As announced recently, the trading platform said it will launch Unichain, its Ethereum layer-2 scaling solution.

Unichain's launch could significantly enhance Ethereum's scalability and DeFi accessibility, potentially reshaping the blockchain landscape. The post Uniswap debuts Ethereum L2 Unichain, UNI token surges 13% appeared first on Crypto Briefing.

Uniswap launching Unichain, a Layer 2 blockchain on Ethereum, aimed at faster, cheaper transactions and improved liquidity.

The Uniswap price surged 17% on Thursday on the back of Uniswap Labs' recent announcement of its new Ethereum layer-2 network. This development is set to increase the decentralized exchange's native token UNI's utility.

Decentralized exchange Uniswap has entered the layer-2 solution landscape with its new initiative to “accelerate Ethereum's scaling roadmap.

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Uniswap will launch an Ethereum layer-2 network called Unichain in an effort to cut fees, boost liquidity, and more.

Uniswap Labs is building a custom Layer 2 called Unichain using the Optimism Superchain, which will feature sub-second block times.

The news is in line with the ongoing trend that's hit the Ethereum scaling world since the end of 2023: giant and familiar crypto exchanges launching their own layer-2 networks.

Bitcoin failed to hold above $62,000 as the crypto prices continued to battle sell-off pressure in a month that has historically been bullish. Several altcoins are however likely to mirror BTC's holding of support near $60k, including Tron (TRX), Worldcoin (WLD) and Decentraland (MANA).

The Uniswap (UNI) price has recorded a strong bullish recovery over the past few days amid increased price volatility in the crypto market. Moreover, with a potential breakout, this altcoin hints at a potential surge toward its target level of $15 this Q4! However, the resistance trendline around $7.

Uniswap (UNI) price has experienced a modest recovery amid recent market dynamics. Despite persistent volatility, the token shows potential for further gains.

Bitcoin (BTC) found support at around $62,000, helping it stabilize and prevent a further decline. The world's largest cryptocurrency has shed almost 2% over the past 24 hours after facing considerable volatility over the previous week, which saw highs of over $65,000 and a low of $59,800.

Celestia (TIA) has surged by 21% over the past four days, sparking interest in the sustainability of this upward trend. While the rise is promising, shifts in key indicators raise questions about its strength.

NEAR joined Uniswap as a top performer, gaining 5.0%.

Uniswap, one of the leading decentralized exchanges in the cryptocurrency space, is currently facing a critical juncture. With a staggering 1195% increase in exchange net flows, many are left wondering whether retail traders can step in to stabilize the price of UNI, its native token, which has been experiencing volatility.

The cryptocurrency sector is witnessing significant transformations in how users manage, trade, and secure their digital assets. With Uniswap's fee adjustments catalyzing substantial revenue and the burgeoning role of crypto NFTs in gaming, these developments are poised to redefine the future of digital finance.

In the last 24 hours, Solv Protocol, a leading Bitcoin staking platform, with a 24-hour protocol fee of $1.48m, has emerged as the sixth largest among the protocols. Interestingly, Solana, with $1.24m in fees, and Uniswap, with $1.15m in fees, have been pushed down to eighth and ninth positions, respectively.

UNI traders must be wary. And, there's good reason for it too!

TIA's funding rates have been predominantly negative since early September showing strong bearish sentiment.

On Friday, Uniswap's price saw a 1.7% rebound, reaching $6.67. This bullish shift comes after a broader market cooldown following the recent sell-off triggered by geopolitical tensions in the Middle East.

As October started, the cryptocurrency market faced a significant crash, increasing the bearish sentiment and attracting highly capitalized short-sellers. Some cryptocurrencies now risk suffering a short squeeze as imbalances appear in the market's open interest, dominated by short positions.

The crypto markets saw significant turmoil over the past 24 hours, with over 100,000 traders impacted by mass liquidations, greatly raising concerns during the latest market downturn. Bitcoin (BTC) briefly dipped below the $60,000 mark on October 3 before recovering and pushing back above $60,000.

Uniswap (UNI) is currently navigating a turbulent phase as it hovers around the $7 mark. After experiencing an 8% drop in just 24 hours, the token's price movement reflects broader bearish trends affecting the entire cryptocurrency market.

A closely followed crypto strategist is warning that one modular blockchain project may be on the verge of collapse. Pseudonymous analyst Altcoin Sherpa tells his 224,000 followers on the social media platform X that layer-1 Celestia (TIA) could plummet by more than 77% from its current value due to prolonged investor selling.

The cryptocurrency markets continued to drop for the second day in a row, with major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), firmly entrenched in the red. BTC slumped to a low of $60,031 before recovering and is currently trading around the $61,300 mark.

The cryptocurrency market has been showing signs of struggle lately, and Celestia (TIA) is no exception. Recent analyses indicate that TIA might continue its downward trajectory, potentially hitting a price of $4.55 in the coming days.

The modular blockchain network Celestia will conduct the large token unlock in October, with a massive $1 billion worth of TIA set to be released. Many of its holders have begun selling their tokens before this event.

Uniswap exchange inflows reached 893,000, nearly double the inflows recorded the previous day.

According to RootData statistics, 97 publicly disclosed crypto VC investments occurred in September, representing a 12.6% decrease from August's 111 rounds.

UNI is making a strong comeback as bullish momentum pushes the token toward the critical $8.7 resistance level. After bouncing back from a recent low of $6.7, market enthusiasm is building, and traders are watching closely for a potential breakout.

The market isn't in favor of a TIA upswing. Here's a look at the technical aspects.

Uniswap [UNI], one of the most prominent decentralized exchanges (DEXs) in the crypto space, recently experienced a sharp decline in its large transaction volume, plunging by 64%. This decline in high-volume trades has raised concerns among investors, as large transactions typically indicate the movement of capital by institutional players or whales.

Fenbushi Capital, a blockchain-centric venture capital (VC), appears to be cashing out after moving four tokens, including Aave (AAVE) and Compound (COMP), to Binance. The VC is moving these tokens to the exchange, possibly to sell and lock in their profits or cut losses when market participants expect prices to tick higher.

Fenbushi Capital took losses on some of its holdings, divesting former DeFi stars like COMP, AAVE and UNI. Fenbushi also sold its EIGEN allocation.

October marks significant token unlock events for several major projects.

Uniswap remains the leading decentralized exchange by volume over the past seven days, posting a total volume of $8.1 billion.

Uniswap faces a transaction drop, but bullish signs emerge

SUI is not suffering from today's unlock, but TIA is for the end-of-month unlock.