Newton Gitonga
Building on the momentum of the recently launched Unichain, decentralized exchange Uniswap has launched a permissionless bridging service.
The new product aims to boost interoperability, allowing the DEX’s users to connect to nine chains.
Uniswap launched a cross-chain bridge powered by Across Protocol
Through the Uniswap Interface and Wallet, users can now bridge their assets between nine networks, including Ethereum, Base, Arbitrum, Polygon, Zora, Blast, OP Mainnet, World Chain, and ZKsync.
Through the…
Uniswap’s permissionless bridging live on nine chains
The DEX revealed that permissionless bridging via the Uniswap wallet and interface is live.
Users can connect to Ethereum, Arbitrum, Base, Polygon, ZKsync, World Chain, Blast, Zora, and OP Mainnet.
The decentralized exchange aims to solve issues with individuals using multiple networks with split interfaces to manage digital assets.
Powered by Across Protocol, the permissionless bridge chain will set the DEX ahead of its competitors. According to Uniswap,
Across is a permissionless bridge that operates through a decentralized network of liquidity pools and relayers.
This system enables fast, secure bridging that settles in seconds, not minutes.
Meanwhile, Uniswap remains confident that the “multichain” narrative will dominate the blockchain industry.
The platform launched Unichain – its layer2 solution – to prepare for such a future.
Uniswap’s new L2 network
Uniswap Labs announced Unichain’s testnet on 10 October, with the public mainnet expected before 2024-end.
Introducing @unichain — a new L2 designed for DeFi ✨
Fast blocks (250ms), cross-chain interoperability, and a decentralized validator network
Built to be the home for liquidity across chains
The L2 network will introduce instant transactions and 1 sec block times to enhance market efficiency and lower “value lost to MVE.”
UNI price performance
The native token displayed significant bearishness on the daily chart, down over 5% to trade at $7.55.
Its 24-hour trading volume slumped 65%, reflecting near-term weakness.
Meanwhile, the DEX has attracted attention in 2024 due to different reasons.
For instance, the tradign platform remained on investor radar in April 2024 after the US SEC sent the DEX a Wells Notice for violating securities laws.
Also, Uniswap hit the spotlight after accepting to pay $175K to settle with the United States Commodity Futures Trading Commission (CFTC).
Despite the regulatory challenges, UNI has displayed resilience, up 2.35% year-to-date.
The altcoin remains poised for stable growth in the upcoming times, with increased interoperability among the catalysts.
Buyer resurgence would trigger solid upswings towards $10 – translating to a 33% gain from current prices.
Robust bullishness could open the doors towards the $15 mark before soaring to the resistance zone at $18.
However, broad market sentiments would be crucial in shaping UNI’s trajectory in the upcoming sessions.
The current downbeat mood, as Bitcoin threatens a dip below $65K, would likely trigger extended dips for UNI prices.
However, a BTC rebound towards $70K would trigger significant reversals for the token.
Analysts remain confident despite the current bear dominance.
Michael van de Poppe urges investors to remain patient as the altcoin market could explode 50x this cycle.
If your #Altcoin portfolio is down 30-70%, that’s completely fine.
Being positioned well can lead you to a 20-50x at the end of the cycle.
Just a matter of patience.
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