Uniswap Funding 9 Projects to Bolster v4 Security, Can Uniswap Price Benefit?

Uniswap Foundation shared a list of projects that are subsidized for auditing services, which will improve shield security for their soon-to-launch v4 Hooks platform. Can Uniswap Price benefit from this?

The financial aid helps nine projects: Bunni, Collar Protocol, Cork Protocol, Gamma, LIKWID, Lumis, Tenor Labs, Paladin, and Unicord. This project helps Uniswap’s v4 team fix smart contracts to keep transactions secure.

As stated by the foundation, these audits will improve Uniswap v4 by letting developers use special “hooks” to add their own features to the system.

This improvement will let users navigate Uniswap more easily, while keeping it ahead in the competition among decentralized trading platforms.

Uniswap v4 Rollout Begins Amid Market Activity

Uniswap informed its community this week that release of their awaited v4 update had begun. The system now lets developers test their fresh code on the real blockchain data, with the entire update planned for release in the following week. Uniswap stated,

“DeFi renaissance in progress, contract addresses will be shared soon.”

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The v4 update improves three things: speeds up transactions, makes the interface more user-friendly, and gives developers new tools. These new features are meant to keep Uniswap at the forefront of decentralized finance. UNI token prices fluctuated before the launch, while traders watched market changes carefully.

Uniswap Price Faces Market Pressure Ahead of Launch

At the moment of writing, Uniswap’s (UNI) price was $12.59, which meant it had lost 5.20% compared to yesterday’s close and 10.72% from a week ago. UNI’s market value is near $7.56 billion, with 600 million units traded daily and $331.5 million in daily exchange activity.

Technical indicators show market prices moving downward. The shorter-term moving average at $13.109 dropped below the stronger trend average at $13.592 showing emerging downward price movement.

The MFI reading of 44.54 shows weak buying strength that can lead to additional price drops unless new demand builds up.

Open Interest Stabilizes Following Volatility

Open interest data shows that Uniswap trading levels now rest at 192.221M around a steady position in OI data. The trading volume and expectation positions on Uniswap jumped over 212M during four straight market days in January 2022.

The trading system experienced strong sell-offs during three days from January 18 to 20 when open interest tanked below 188 million.

From January 21 onward, OI has been steadily staying between 192M and 196M. The current market activity shows traders are slowly coming back, and their mood feels more level-headed.

Right now, with order flow near 192.221 million, Uniswap is holding steady during a quiet period before starting its v4 version.