UNI token breaks $20
16 days ago I wrote a post posing the question "Where is the UNI token going?"
At the time, UNI was selling for around $7 USD, today UNI broke $20.
Back in September 2020, UniSwap airdropped everyone who used UniSwap prior to September 1st 400 tokens, at the time worth around $1,200. While many people sold immediately, the bulk sold their UNI tokens immediate around $3.
If you held your UNI airdrop until today, that $1,200 airdrop is now worth $8,000. In comparison, the $1,200 US stimulus would be worth $5,999 if you purchased Bitcoin right away.
Is Uni going to make gains?
Who knows to be honest, but I personally have been waiting until the release of v3 to even consider selling any UNI. I did sell the initial 400 airdrop around $5 but have since been collecting it by participating in the incentivized liquidity pools.
With the recent events like $GME, UniSwap is getting a lot of attention as people look to decentralized solutions. I've been monitoring Reddit lately and have seen an increased interest in UniSwap as an alternative to stocks.
It looks like my prediction of $30 UNI isn't far off and might actually be on the low side. If UniSwap makes good with their promises in V3, we could see even more interest in Defi.
Right now there is almost 3.5 billion USD held in UniSwap contracts with almost 750 million in daily volume.
If you thought Defi was a fad, well it surely doesn't look that way.
This is not financial advice and you should always check with your mom before spending more than your lunch money.
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