Uniswap Sustains 24-Hour Gains as UNI Tops Most Widely-Held Token Among Whales

As per CoinMarketCap, Uniswap is among the gainers in the last 24 hours. UNI also tops the most widely held token among whales as reported by WhaleStats. At the time of publication, Uniswap was exchanging hands at $19.45, up 5.16% in the last 24 hours and 7.06% in the past seven days.

According to the Crypto Fear and Greed Index, market sentiment has flipped into ''extreme fear'' as Bitcoin battles the $47K barrier. A handful of altcoins were also losing value at press time.

Uniswap has ticked higher since the start of 2022 and remains among the top 10 purchased tokens among the top 1,000 ETH wallets tracked by WhaleStats.

In addition to this, UNI remains the most widely held token, which suggests that nearly all large wallets hold at least one Uniswap token.

Uniswap CEO hints at development direction for 2022

Hayden Adams, inventor of the Uniswap Protocol and CEO at Uniswap Labs, recalled in a series of tweets the achievements of Uniswap labs in the past year while forging ahead into 2022.

According to Chinese reporter Colin Wu, ''Uniswap put forward the development direction in 2022: To better motivate developers and encourage them to participate, and cumulative trading volume will exceed 1 trillion US dollars in 2022.''

In December 2021, Uniswap Labs announced the deployment of Uniswap v3 contracts based on the votes that reflected a more than 99.3% approval consensus. According to data from Defi Llama, about $64.23 million in value is locked on Uniswap on Arbitrum, while nearly $36.48 million worth of tokens is locked in the Optimism version.