Overview

The launch of Unichain, Uniswap’s anticipated layer-2 network, resulted in a 4.5% increase in the governance token UNI’s price, now sitting at $9.7. Notably, it did not surpass the $10 threshold but outperformed Bitcoin (BTC), which dropped by 0.3% in the same timeframe.

Key Points

• UNI’s price increment followed the launch of Unichain, amidst positive sentiment reflected in social media discussions.
• Online engagement rose by about 30%, with over 1,400 posts, 41% positive and 48% neutral.
• As of the first day, Unichain has seen approximately 15,000 active wallets and close to 100,000 transactions.

Insights from the CEO

A significant post by Hayden Adams, CEO of Uniswap Labs, highlighted an optimistic outlook for the protocol:

“In other words, relentless shipping will continue until Ethereum scales and DeFi is bigger than tradfi+cefi combined. In just four months of testnet, the network processed ~100M transactions. Now it’s live with 80+ projects already building on top.”

Translation: In just four months of testing, the network managed to process around 100 million transactions. It is now officially active, with over 80 projects already being developed on it.