🔥While the market falls, Uniswap's UNI token explodes 👀
On Wednesday, February 11, the crypto market is once again in the red, this due to the price of #bitcoin having dropped to levels of $66,000 dollars. However, not everything is lost as there was a sudden rise of #Token #UNI of #uniswap . What is behind this rise?
In the early hours, it was reported that #blackRock , one of the largest fund managers in the world, is
deepening its presence in decentralized finance, allowing on-chain trading of its tokenized fund BUIDL, in collaboration with Uniswap Labs and Securitize.
As is well known, Uniswap is one of the largest decentralized exchanges by accumulated volume, and its operation is through smart contracts of market makers.
This DEX has developed Uniswapx, an off-chain routing system that aggregates liquidity and settles on-chain trades. Blackrock's BUIDL will make use of this technology, marking a milestone.
This doesn’t end here as it was also revealed that Blackrock has made an investment in the Uniswap ecosystem, buying an undisclosed amount of UNI token. For this reason, Uniswap's UNI token rose more than 40% just a few hours after this information was revealed.
Do you think Blackrock has its eye on other tokens in the DeFi category?
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