Why Uniswap is still poised to deliver robust long-term growth

ambcrypto.com:

Uniswap managed to maintain healthy trading volumes in the last couple of months amid a disruptive bear market. A healthy outcome but events that unfolded during the bear market underscore its ability to become a bigger juggernault in the DeFi space than it already is.

A recent Grayscale report about the ongoing bear market helps to put Uniswap’s potential into perspective. It notes that Uniswap has more depth for major cryptocurrency pairs than top centralized crypto exchange.

This includes Binance which is currently the largest crypto cap by volume. This is because its secret weapon is higher liquidity and that is how it managed to outperform the competition.

The collapse of centralized finance platforms within the blockchain industry contributed a great deal to the sell pressure in the last few months.

Many investors have started to view CEFI staking and liquidity platforms as riskier. This outcome has supported the flow of liquidity to DeFi platforms and this puts Uniswap on the advantage.

The liquidity flow in favor of decentralized finance platforms is expected to boost Uniswap’s UNI token’s performance during the next market cycle.

However, the same Grayscale report suggests that the bear market might extend at least for another four to five months. This means UNI’s price action might remain subdued.

UNI is still up by roughly 92% from its current 2022 lows, with a $6.70 price tag at press time. It might shed some of its gains in the short-term, especially if the Grayscale projection about the bear market is accurate.

Source: TradingView

UNI’s support is currently holding at the 0.382 Fibonacci retracement level for now.

Short-term outlook remains uncertain marching into the weekend.

There is some glimmer of hope for the