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Uniswap Multichain Users Hits 3.2 mn
Uniswap, a decentralized exchange (DEX), is celebrating a significant milestone in its multichain adoption, with 3 mn users currently using its protocols. The chains used include Ethereum, Arbitrum, Celo, Binance Coin (BNB), Base, Polygon, and Avalanche. Uniswap started as an Automated Market Maker (AMM) on the Ethereum blockchain and has expanded to other networks, doubling its reach. The exchange’s multichain support and features have sparked interest among investors, as evidenced by its native token’s price action.
Currently, UNI is trading at $8.06, up by 2.3% in the past 24 hours and over 11% over the past seven-day period. The token has seen more days of drawdown, and its record of booming adoption may change its valuation in the long term.
Despite its impressive metrics and dominance, Uniswap faces regulatory headwinds, including a lawsuit with the United States Securities and Exchange Commission (SEC). Uniswap founder Hayden Adams has promised to fight the SEC, similar to the legal battles against Ripple Labs, Binance, and Coinbase exchanges.
(With inputs from Shikha Singh)
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