Uniswap Announces UniswapX Update with New Auction Contract

• The platforms information quotation flow will be redesigned as part of the update.
• Updates to UniswapX and other versions are now live on the web app.

Uniswap, a decentralized cryptocurrency exchange, has announced an update for UniswapX, and users are hoping for more activity. The platforms information quotation flow will be redesigned with the deployment of a new auction contract as part of the update.

Updates to UniswapX, implemented via a new auction, rework the flow of order quotation information, according to Uniswap Labs. Increased quotation speeds, improved deal execution, and more MEV returned to swappers are all promised by the new version, according to the exchanges post on X. Updates to UniswapX and other versions are now live on the web app, and they will soon be accessible on mobile devices.

Strong Comeback Anticipated

At a time when people are hoping for a change for the better, the community is praising the upgrade. Although the current price of the exchange token has corrected, recent whale behavior suggests that there may be increases.

Due to institutional investment and the legalization of spot Bitcoin ETFs, decentralized finance (DeFi) activity has surged this year. Consequently, AUM and trade volumes surged in Q1 2024 before leveling out in the following quarters.

Previous figures, improvements, and institutional market participation have kept consumers optimistic about a strong comeback. With a new opportunity for more conventional participants, Ethereum exchange-traded funds (ETFs) in the US are likely to attract a flood of new investors.

At the time of writing, UNI is trading at $7.58, down 1.69% in the last 24 hours as per data from CMC. Moreover, the trading volume is down 18.87%.