Uniswap V4 Launch Update Ignites UNI Bull Rally

• Uniswap v4 launch imminent, prioritizing security and efficiency for users.
• Ethereum’s Dencun upgrade is set for March 13, 2024, boosting anticipation.

Uniswap, the leading decentralized finance (DeFi) protocol, is making waves in the market with its imminent v4 launch. Amidst anticipation, the Uniswap Foundation has announced a meticulous roadmap for the rollout, aiming to ensure the highest level of security and efficiency.

The foundation disclosed that they are currently in the critical “Code Freeze” phase, where they are diligently finalizing core code elements, conducting rigorous testing, optimizing gas usage, and enhancing security measures. And refining peripheral functionalities. This phase underscores Uniswap’s commitment to delivering a robust and reliable platform for its users.

Simultaneously, the decentralized exchange (DEX) will be deployed to the testnet for final adjustments, signaling the imminent transition to the mainnet. However, the timeline for the mainnet launch is subject to potential adjustments based on the progress of the upcoming Dencun upgrade on Ethereum.

UNI Bull Rally Here?

In light of these developments, market sentiments around Uniswap have been notably buoyant. Investors and traders are closely monitoring the unfolding events, anticipating potential price movements as the v4 launch approaches.

UNI Price Chart, Source: TradingView

Meanwhile, Uniswap hit a month high with a 7% surge in the past 24 hours. It is currently trading at $7.50. The trading volume is at $191 Million with a 79% surge.

Amidst these developments, analyses of UNI price movements paint a bullish picture. The daily chart shows a bullish presence, with the 9-day EMA currently positioned below the trading price at $6.861. However, the daily relative strength index (RSI) suggests an overbought condition, standing at 73.