Avalanche will welcome Uniswap V3 into its network; TVL set to power?

  • Uniswap moved to launch in Avalanche before the BSL expired.
  • Uniswap will be the largest protocol in Avalanche when it launches.

On March 17, Uniswap announced that it would be publishing to Avalanche and adding support for AVAX. Since Uniswap is one of the leading decentralized finance (DeFi) protocols, Uniswap deployment can have a significant impact on the avalanche in terms of transaction volume and total value locked (TVL).

Read Avalanche (AVAX) Price Forecast 2023-24

Uniswap on Avalanche

There was a request to deploy Uniswap V3 in Avalanche at a suggestion made by some community members. The Business Source License (BSL), which is set to expire on April 1, was the catalyst, according to the promoters. Exiting the BSL will allow developers to share Uniswap V3.

On March 17, the vote closed, with 26 million votes – or 91.26% – in favor of the proposal. This effectively means that Avalanche, which already supports over 200 protocols, would be happy to integrate Uniswap into its system.

The meaning is that Uniswap It will probably overtake Trader Joe’s as the most popular avalanche protocol with regards to TVL.

Avalanche TVL

Avalanche had about 281 protocols listed on it from DefiLlama’s last data dump. More than 5% of TVL was created in the last 24 hours, bringing the total to nearly $821 million from all the protocols on it.

Source: Defillama

Still, Uniswap has a bigger TVL, and V3 alone has over $2 billion. Uniswap has been available on several chains, including Polygon, Arbitrum, and Optimism, as well as recent expansion plans for Avalanche.

Its TVL may rise as a result of Uniswap’s deployment. Its transaction volume may also be affected, which will have an impact on AVAX.

AVAX and UNI break the neutral line

Avalanche (AVAX), according to the daily chart, increased in value by 11.50% as the market closed on March 17th.

It was trading at roughly $17.66, down less than 1% at the time of writing. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) showed that the minor uptrend has turned the asset into an uptrend.

Avalanche Price Action (AVAX)

Source: TradingView

What is the value of 1,10,100 AVAX today?

Uniswap (UNI), which is up over 2%, was trading at around $6.5 at the time of writing. It has been pushed into an uptrend by its current uptrend, just like AVAX, as indicated by the MACD and RSI lines.

UNI/USD price movement

Source: TradingView

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