The DeFi platform Uniswap has enjoyed great popularity since its debut last year. This benefited the UNI token holders – especially those who received them completely free to be among the earliest users of the platform.
Here you can see how quickly the platform and its token popped up in the crypto market and how much money investors would have made if they had stayed strong from the moment the free DeFi tokens were issued.
The unicorn of crypto grows to $ 17 billion in market cap, $ 1 billion + daily trading volume
Uniswap’s unicorn logo is appropriate. In the business world, a unicorn is an explosive growth startup that is quickly propelling it to over $ 1 billion in value.
In less than a year, UNI’s market cap alone is more than $ 17 billion, and the incredibly popular DeFi swap platform is trading in excess of $ 1 billion a day.
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The unicorn status crypto version deserves the outstanding growth. And when it first launched, anyone who started using the platform early enough was given the crypto version of the stimulus check.
Early Uniswap users were each given 400 UNI tokens worth around $ 3 per token. Nowadays, the same “stimulus check” would feel a lot more like a lottery ticket.
Holding 400 free UNI only a little over 150 days made $1200 into $12,000 | Source: UNIUSD on TradingView.com
Free early adopters UNI tokens worth more than $ 12,000
At one point, UNI fell to around $ 800 for anyone who owns the 400 free tokens, but those who have held and haven’t moved since then have more than ten times that original value for their efforts demonstrate.
From an average of around $ 1,200 for the 400 tokens, the same free UNI is now valued at over $ 12,000. The price hike took place in less than six months or around 160 days and shows that a little patience can pay off.
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Foresighted investors who sold early and believe they received $ 1,200 in free cryptocurrency are likely to regret it as the price per token has risen so high in such a short time and is missing out on more than $ 10,000 in profit to have.
Selling the tokens could lead to the same kind of regret if the fledgling DeFi platform continues on the path it has taken since its inception. And if the cost per UNI token also goes the same route, the brand made sure all early adopters were disconnected from their unicorn-like runaway success.
Featured image from Deposit Photos, Charts from TradingView.com