A report from the cryptocurrency data provider, According to Cross Angle, the tokens that first gained popularity at Uniswap consistently saw average gains of 208% once they were listed on major central exchanges (CEX).
Much has been said about it in the past “Coinbase Effect” and “Binance Effect”, where the price of a token is said to experience rapid appreciation as soon as it is listed on one of the two exchanges mentioned above. However, this time around, there appear to be a lot of tokens in different platforms, which contributed to these results. The report’s authors examined several tokens that ended up on a major central exchange after being listed by the Uniswap decentralized exchange. They came to the conclusion:
“The average profit of the top projects on the Uniswap list that have successfully landed on the CEX is an exorbitant + 208% (YFI, YFII, REN, RSR, ZAP, AMPL, OM, BAL, SNX, UMA) Token price, volume, number of wallets and the number of active wallets are all increasing dramatically. “
According to Cross Angle, the one with the highest income is a decentralized stable coin called “Reserved Rights” that grew by more than 700%. Because the authors do not fully disclose the methodology used to reach this conclusion, it is not very clear whether these revenues are determined on an annual basis or otherwise.
Early in the morning today Uniswap launched its governance token. Thousands of users immediately signed up to claim their free UNIs.