Uniswap, a prominent decentralized exchange, is witnessing a notable surge in its native cryptocurrency, UNI. The token’s value has escalated by around 10% in the past day, outpacing the general market uptrend. Currently, UNI is trading at $7.63, boasting a market capitalization of $4.54 billion. This rally is supported by a hefty 62% spike in trading volume over the week, propelling UNI’s weekly appreciation to over 15%.
UNI Gains Momentum with Uniswap v4 Upgrade Plans
The catalyst for UNI’s ascent is the Uniswap Foundation’s announcement of the forthcoming Uniswap v4 upgrade, slated for release in the year’s third quarter. This upgrade will introduce “hooks,” a feature designed to augment the adaptability of smart contracts.
Hooks will allow developers to inject custom logic at designated points within the contracts, opening up a realm of new possibilities. The Uniswap v4 upgrade is expected to bring down transaction costs while offering users cutting-edge functionalities, including refined asset management tools and instantaneous token exchanges.
Uniswap Founder Alerts Community to Scam Threat
In the midst of these optimistic developments, Hayden Adams, the mastermind behind Uniswap, has sounded an alarm over a fraudulent scheme involving the impersonation of Ethereum Name Service (ENS) domains. Scammers have been duplicating and registering wallet addresses under the guise of .eth ENS domains to defraud unsuspecting users.
Adams has urged the community to exercise caution and double-check wallet addresses to safeguard against these deceptive tactics.