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Sam Cooling
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Sam Cooling
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In a landmark development, Uniswap’s CEO Hayden Adams announced on October 10 that Uniswap Labs is launching a new Layer-2 scaling solution, aptly named Unichain.
This move positions Uniswap in the competitive market where major players like Coinbase, with its Base Chain, and OKX, with X-Layer, have already launched their own Ethereum layer-2 solutions.
Unichain is specifically designed to enhance DeFi product development, signaling Uniswap’s strategic entry into the intensifying race for Layer-2 scaling solutions.
This adds weight to the so-called ‘AppChain’ thesis, which suggests that in the future, dApps will run on their own dedicated blockchains rather than sharing a single blockchain such as Layer-1 Ethereum as part of a need for performance, customizability, and governance flexibility.
Projects such as Polkadot pioneered the AppChain thesis, which uses a parachain model to support the individual needs of dApps; however, it seems market growth is honing in on Ethereum scalability as the premier destination.
UNI Price Analysis: How is Uniswap Price Reacting to the Unichain Reveal?
As Uniswap pushes up against resistance, UNI is currently trading at a market price of $7.96 (representing a 24-hour change of -2.2%).
This follows last night’s seismic pump, which saw the UNI price surge an impressive +17% in the wake of the Unichain announcement.
Now, in a minor localized retracement, as price action stabilizes following the thunderous pump, UNI price appears to be battling to cement a position above the freshly reclaimed 200DMA at $8.12.
However, with strong support above the 20DMA at $7.14, UNI price now finds itself in a tight range between $7.14-$18.14, which will inevitably push a decisive move.
Indeed, at current levels, these key moving averages seem set to reconverge in the near future following the emergence of a ‘death cross’ back on July 8th.
However, some concern emerges from the RSI, which has risen to a strong bearish signal at 64.5, suggesting that a retrace down to 20DMA support could be the next move.
Yet, if UNI bulls can consolidate here until the ascendent 20DMA forms a golden cross with the 200DMA, then $9 seems a likely upside target for a breakout move.
While Unichain is an exciting launch, it offers few profit opportunities for everyday investors, and that’s why many are switching their attention to a new community-led layer-2 solution with early-bird opportunities for people like you.
Pepe Unchained Could Be The Hottest Layer-2 Scaling Opportunity
Pepe Unchained is setting out to right the wrongs of the original Pepecoin launch in 2023, which, despite market success, missed the opportunity to develop a true ecosystem by deploying on Ethereum layer-1 as a standalone ERC-20 token.
While other projects, such as Dogecoin, form their own layer-1 blockchain, others, such as Shiba Inu, have opted to expand from ERC-20 status to launch their own layer-2s (e.g., Shibarium).
The team behind Pepe Unchained is seeking to do much the same, liberating Pepecoin from its Ethereum nightmare and instead fostering a new community-led ecosystem that is set to emerge as a premier destination for meme coin activities.
At the heart of this is some serious planning and development, namely through the launch of a plethora of planned dApps, including a critical cross-chain bridge, a block explorer, and perhaps most excitingly of all, a new developers grant fund (humorously named ‘Frens with Benefits‘).
To top it off, you can profit from this venture, with the Pepe Unchained team offering early-bird access to a near viral $PEPU token presale – which has currently raised a jaw-dropping $18.75M.
Better yet? When you invest in the $PEPU presale using Ethereum, USDT, or a simple VISA card, you can instantly stake your $PEPU presale tokens for an additional market-beating 116% APY.
So don’t miss out. Stay current by engaging with the Pepe Unchained community on X and Telegram.
Find Out More About Pepe Unchained Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
