Uniswap (UNI) Zeroing In on XRP After Surpassing Litecoin (LTC)

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Sun, 03/07/2021 - 18:35
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Alex Dovbnya
Uniswap is not the 8th largest cryptocurrency by market cap, coming close to surpassing XRP
Uniswap (UNI) Zeroing In on XRP After Surpassing Litecoin (LTC)
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Uniswap (UNI), the native token of the eponymous automated market maker, has become the first decentralized finance (DeFi) token to break into the CoinMarketCap top 10. The cryptocurrency is up over 52 percent in less than a week. 

With its market cap surpassing $16.6 billion, it is now significantly bigger than Litecoin (LTC), which is currently worth $12.5 million. 

Related
XRP Presents "Huge" Risk to Exchanges, Says Kraken CEO

The DeFi token is now just a couple of billions away from surpassing Ripple-affiliated cryptocurrency XRP whose rally has been thwarted by the blockchain's company regulatory troubles.  

Uniswap
Image by coinmarketcap.com

UNI is yet to reach a new high 

Still, UNI is yet to reach a new all-time high after touching its current peak of $33 on February 21.     

Uniswap is currently the largest decentralized exchange, with its Binance Smart Chain-powered archrival Pancake Swap being in a close second place, according to CoinGecko data.  

The forthcoming release of Uniswap v3 is expected to increase its momentum, but little to no information about the new exchange is available as of now. It is widely expected to tackle Ethereum's exorbitant fees with a Layer 2 scaling solution.       

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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