The Uniswap effect is leading to 208% gains on average for certain tokens

Altcoin

A report from crypto data provider, Cross Angle, claims that tokens which first gain traction on Uniswap have consistently provided 208% returns on average once listed by major centralized exchanges.

In the past, much had been said about the “Coinbase effect” and “Binance effect”, in which a token’s price allegedly experiences fast appreciation once listed by either of the former exchanges. However, this time, it is purportedly a combination of listings that yields results. The report’s authors examined a number of tokens that landed on a major centralized exchange after having already been listed by the Uniswap decentralized exchange. They concluded:

“The average return for top Uniswap-listed projects that successfully land on CEXs is a staggering +208% (YFI, YFII, REN, RSR, ZAP, AMPL, OM, BAL, SNX, UMA). Their token price, volume, wallet count, and active wallet count all saw dramatic increases.”

According to Cross Angle, the biggest winner is a decentralized stablecoin called “Reserved Rights”, which gained over 700%. As the authors do not fully disclose their methodology within the report, it is unclear whether these returns are annualized, or otherwise determined.

Earlier today, Uniswap released its governance token, with thousands of users immediately signing up to claim their free UNIs.

Products You May Like

Articles You May Like

Beyond the headlines: The real adoption of Bitcoin salaries
US lawmakers request crypto firms provide info on diversity and inclusion
Will #bitcoin and #ethereum follow tech #stocks ?! #crypto #investing #trading #money #nasdaq #nft
Price analysis 8/5: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX
Report: Nearly 13,000 Chinese Social Media Accounts Promoting Virtual Currency Closed

Leave a Reply

Your email address will not be published.