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Uniswap Price Rallies 5% Following Ethereum iOS Wallet Launch

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Uniswap, the leading decentralized exchange (DEX) for Ethereum, has released its own mobile wallet for iOS, the operating system used by Apple mobile phones, causing a slight rise in the price of the cryptocurrency.

The wallet, created by Uniswap Labs, enables a seamless exchange of cryptocurrencies and tokens between Ethereum and other networks, including the second layers (L2) Arbitrum and Optimism, as well as the Polygon network, which are all compatible with the Ethereum Virtual Machine (EVM).

Update On The Uniswap Wallet Launch

One of the key characteristics of the wallet is its self-custodial nature, which means that users retain control over their private keys and do not entrust them to any third party. Additionally, it’s worth mentioning that the wallet is open source, with its complete repository accessible on the GitHub platform.

Another notable feature of the new Uniswap offering is its compatibility with WalletConnect, allowing users to connect to various Ethereum mainnet or L2s applications. Moreover, it also allows for seed phrase importation from other wallets like Metamask, Rainbow, and Coinbase.

Related Reading: Binance Announces Post-Shapella ETH Withdrawal Requests May Take Weeks

The official launch statement highlights the ability to purchase cryptocurrencies with debit cards at a commission of 2.55%. This is made possible through the intermediation of Moonpay. As stated on their social media channels, this payment platform aims to bridge the gap between the real world and decentralized finance.

The wallet has already been tested by “thousands of users” through early access and is now widely available to the public. Uniswap strongly emphasized the security of its product, which has undergone “a thorough security audit carried out by Trail of Bits.” Furthermore, opening the code for scrutiny enables anyone to audit and confirm its security.

Users of the wallet can enjoy a range of convenient functionalities designed to enhance their experience. For instance, the wallet provides options for sorting tokens based on market capitalization, allowing users to track the performance of different tokens in the market easily. In addition, users can access price and volume charts, empowering them with valuable insights to make informed investment decisions. Another noteworthy feature is the ability to mark tokens and non-fungible tokens (NFTs) as favorites, enabling users to monitor trends and activities related to their preferred assets closely.

Related Reading: ChatGPT Rival In The Works: Elon Musk Creates His Own Artificial Intelligence Company

Uniswap Tallies 5% In The Past Week: What’s Next 

Following the Ethereum iOS wallet launch report, Uniswap has experienced a sharp increase in its price over the past week, rallying over 5%. According to data by TradingView, Uniswap was trading at around $5.7 before the news. At the time of writing, the native token of the popular Ethereum DEX is trading at $6.2.

Uniswap Price Rallies 5% Following Ethereum iOS Wallet Launch [email protected]Tradingview

Unsurprisingly, the crypto community received the news well, reflected in the surge in trading volume on Uniswap. According to technical indicators, the UNI price has crossed all moving averages, a bullish sign for the token. The token has moved toward a strong buy direction, with the coin above the primary pivot points of (6.116, 6.064, and 6,081). This indicates the bulls are in control of the market, and if it continues, UNI may edge closer to the $7 price level. 

Featured image from Uniswap.com, chart from TradingView.com



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