Hot Coin Tracking丨Adventure Island NXPC rises against the trend by 20%, market speculation on Tencent concept, popular KOL Aoying calls for orders and increases positions.
Currently, NXPC is ranked first on Binance's gainers list, with a 20% increase far ahead of others. It shows three special points on the Followin data list:
1⃣ 2nd on the hot coin gainers list;
2⃣ 5th on the Upbit trading volume ranking;
3⃣ 3rd on the funding rate list, with a negative rate of -0.2%.
Yesterday, news broke that Tencent is researching a $15 billion acquisition of game developer Nexon, the company behind Adventure Island.
NXPC has been continuously declining since its launch on Binance, only starting to strengthen after the above news was published.
Today, popular KOL Aoying Capital @thankUcrypto, who has recently made millions in the contract market by continuously betting against the trend, called for three coins after the market crash: #uni, #aave, #nxpc. Their NXPC double long position has made over 14,000 USDT in profit.
#AdventureIsland
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Let me share my personal views:
1. Based on Mike's continuous buying at this position, I believe the price of Bitcoin is still far from its peak. If we consider the period around interest rate cuts, I would conservatively guess it could reach 140,000;
2. Since institutions have entered the market on a large scale, the price movement of Bitcoin has changed. We see small pullbacks followed by large surges, and we are currently in a long-term bullish trend. However, upon observation, we can see that as the price of Bitcoin rises, the magnitude of each surge after a pullback is gradually weakening. The reason is simple: the price is higher, and more capital is needed for the surges, so the increments will become smaller;
3. I believe that when the pullback exceeds 30%, it will signal the end of the overall Bitcoin bull market;
4. As for altcoins, over 90% will go to zero because 99.99% of the altcoins in the crypto space are scams. As the market matures and players become more sophisticated, these scams will no longer deceive people, leading them to zero. The remaining ones will either be genuinely meaningful new altcoins or older altcoins that have become meaningful. For example, if UNI activates its dividend switch, it becomes meaningful; if it doesn't, it's just a worthless token;
5. However, before altcoins go to zero, it won't prevent a collective surge when liquidity is truly abundant. I can't imagine a scenario where all coins soar, but it will be similar to the period from October 2023 to March 2024.
shu fen
Simply expressing a personal opinion, the liquidity in the entire crypto space is currently quite fragmented, and the liquidity supporting Bitcoin's price to continue rising is very weak.
Before the Federal Reserve lowers interest rates, the top for Bitcoin should be around the current range of 110,000. After the Federal Reserve lowers interest rates, I feel the price range will be around 120,000 to 130,000.
I believe this round of the crypto bull market cycle is nearing its end, but Bitcoin will not experience a significant level of correction like in past cycles.
More so, Bitcoin will fluctuate alongside the movements of gold and the U.S. stock market. Right now, Bitcoin is in another stage of consensus building (whether it is a safe-haven asset or a risk asset). Once a new consensus is established, Bitcoin may not follow a four-year cycle anymore.
Another point to bring up is the altcoin season. My personal investment style is quite cautious, and I will not buy altcoins. If I had to argue whether there is an altcoin season, using the metaphor of seeking a sword in a boat, I believe that if there were a scenario where altcoins are flying together, it would not happen.
Currently, the altcoin market feels more like the ST stocks in the A-share market; institutions will not buy them and are not allowed to buy them. There are a massive number of token projects, and those with a bit of conscience will pull together for self-rescue, while those without conscience will directly dump their chips.
The current price of Uniswap is $7.3940. Over the last 24 hours, Uniswap has decreased by -7.77%. It currently has a circulating supply of 600,483,074 UNI and a maximum supply of 1,000,000,000 UNI, giving it a fully diluted market cap of $4.44B. At present, Uniswap holds the 16 position in market cap rankings. The Uniswap/USD price is updated in real-time.
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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Uniswap is a decentralized exchange, commonly called a DEX, developed on the Ethereum blockchain. Traders use Uniswap to instantly swap ERC-20 tokens without requiring a liquid market of buyers, sellers, or intermediaries. The network prioritizes censorship resistance, security, and self-custody without needing third-party intermediaries.
Contrary to a centralized exchange that processes trade orders internally via an Order Book, a decentralized exchange operates an automated market maker (AMM), which functions as a constant, permissionless liquidity pool that traders can interact directly on-chain. UNI is the native token of the Uniswap protocol and is available to be traded in various markets on OKX. UNI is required to vote on proposals that govern the development of the Uniswap platform. You can also use UNI to create liquidity pairs and earn crypto rewards.
The Uniswap ecosystem consists of the following features:
Uniswap Labs: The company that developed the Uniswap protocol.
The Uniswap Protocol: A decentralized crypto exchange on the Ethereum blockchain.
The Uniswap Interface: A web interface that enables users to interact with the protocol.
Uniswap Governance: A governance system that uses the UNI token to govern the Uniswap protocol.
While initially developed for the Ethereum network, Uniswap is now operational on the Polygon, Arbitrum, and Optimism blockchains. This cross-chain flexibility is one of the things that decentralized finance users love about Uniswap.
How does Uniswap work?
Uniswap is a decentralized exchange platform that facilitates the creation of an enormous variety of liquidity pools that traders can use to swap tokens. Any compatible token can be added to a DEX and traded without a centralized entity or business being required to host the exchange.
To enable this, Uniswap uses smart contracts, a critical utility in decentralized finance, to allow traders to exchange tokens through an automated market maker. An automated market maker, like Uniswap, is a medium of exchange that will enable traders to swap cryptocurrency in liquidity pools on the blockchain through the Uniswap web app. When using Uniswap, users are not restricted by external factors like market opening times and the need for other traders to place corresponding orders.
To create a liquidity pool, a liquidity provider must supply two different tokens that can become a shared pot of tokens that Uniswap users can trade with. The price of the tokens in a specific liquidity pool is regulated by a mathematical formula that dictates the tokens value. Trading with a liquidity pool changes the ratio of tokens within the pool, causing changes in the price of each token.
Transaction fees incentivize liquidity providers to supply tokens to a Uniswap liquidity pool. They receive a percentage of every trade that exchanges tokens with the pool. The Uniswap decentralized application (DApp) facilitates the creation of an enormous variety of liquidity pools traders can use to swap tokens. Any compatible token can be added to Uniswap and traded without a centralized entity or business being required to host the market.
UNI price and tokenomics
UNI is an ERC-20 token with a circulating supply of roughly 734,000,000 and a genesis maximum supply of 1,000,000,000 tokens. These tokens will be distributed as follows over four years:
Uniswap community members: 60.00% (600,000,000 UNI).
Current and future employees: 21.266% (212,660,000 UNI).
Investors: 18.044% (180,440,000 UNI).
Advisors: 0.69% (6,900,000 UNI).
15% of the total UNI supply was immediately made available to "historical users and liquidity providers." This was done to reward early community members for their faith in the network and liquidity. Additionally, 43% of the UNI tokens will be held by the Uniswap governance treasury. These 430,000,000 tokens will be distributed through contributor grants, community initiatives, liquidity mining, and other programs.
The UNI supply is inflationary, following a rate of 2%, starting four years after the token mint. This inflationary model ensures continued participation and contribution to the Uniswap network. Uniswap's emission structure indicates that the maximum total supply will be reached in September 2024.
About the founder
Development of the Uniswap protocol began in 2017 when founder Hayden Adams was dismissed from his position as a mechanical engineer at Siemens. Adams contacted his close friend Karl Floersch for advice, who suggested he learn more about Ethereum and smart contracts. To develop his coding skills and learn more about blockchain technology, Adams started working on a project that Vitalik Buterin, the founder of Ethereum, had described on Reddit, a popular online forum.
Adams was completely captivated by the beliefs that drove the Ethereum project. The missions of decentralization and permission protocols drove him to continue developing the Uniswap platform, despite being unemployed at the time. A key breakthrough occurred in April 2018, when Adams was introduced to Vitalik Buterin at the Deconomy conference in Seoul. Buterin read over Adam’s source code and advised him to apply for a grant from the Ethereum Foundation and continue developing Uniswap in Vyper, a different coding language.
After several months of continued development, the Uniswap decentralized exchange was finally deployed on the Ethereum mainnet in November 2018. However, the team didn’t stop there and, to this day, continues improving the platform with frequent updates. One such example of this is optional transaction fee tiers in Uniswap V3. This allows liquidity providers to choose how much traders need to pay in transaction fees while trading. Today, Uniswap holds the highest total value locked (TVL) of any decentralized exchange on Ethereum — the largest Layer 1 smart contract blockchain in the cryptocurrency industry.
As a pioneer in the field, Uniswap drew significant interest from several well-known institutional investors. Heavyweight investors like Delphi Digital, Pantera Capital, a16z Crypto, and Blockchain Capital supported and funded Uniswap. These experienced funds aided in the development of Uniswap and are a significant contributor to its current success.
Uniswap highlights
NFTs on Uniswap
One of the most exciting and discussed developments coming to Uniswap is integrating a non-fungible token (NFT) aggregator into the platform. In June 2022, Uniswaps Labs announced that they had successfully acquired Genie and would implement it into the Uniswap site.
Genie is an NFT aggregator. This means that prospective NFT buyers can use Genie to collate and purchase NFTs listed on any marketplace all in one place. This simplifies the NFT collection process and removes the need to check many different marketplaces for the best deals. This is a massive step in the project's development, resulting in DeFi users and NFT collectors being very excited about Uniswap.
The Swap Widget
In April 2022, the Uniswap development unveiled and deployed the Swap Widget, a simple swap function that developers could easily integrate into their applications. The Swap Widget allows users to trade tokens from a third-party site instead of navigating to the Uniswap web app. The Swap Widget can be added to a compatible dApp through just one line of code and is already being used by popular sites like OpenSea.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 3.8K new posts about Uniswap, driven by 2.8K contributors, and total online engagement reached 2.3M social interactions. The sentiment score for Uniswap currently stands at 91%. Compared to all cryptocurrencies, post volume for Uniswap currently ranks at 1364. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Uniswap.
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Posts
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Interactions
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92%
Uniswap FAQ
How much is 1 Uniswap worth today?
Currently, one Uniswap is worth $7.3940. For answers and insight into Uniswap's price action, you're in the right place. Explore the latest Uniswap charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Uniswap, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Uniswap have been created as well.
Watch this video to learn about what happens when you move your money to a crypto exchange.
Disclaimer
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