As the cryptocurrency markets prepare for the next bull season, the interest in the decentralized finance (DeFi) sector is expected to grow exponentially. Concerns about centralized exchanges have increased, especially after the FTX exchange crash. We have long been discussing how DeFi is not completely secure and how cyber attackers prey on unsuspecting investors. However, the interest in this sector continues to rise.
Callil Capuozzo, the design vice president of Uniswap Labs, announced the launch of the decentralized finance platform’s mobile app for swaps. The application, now available to Android users, allows for easy trading on mobile devices. The app was released as a closed beta on October 12 but is now publicly accessible for Android users. An iOS version was launched in April.
Uniswap, which has a $3 billion asset size, is among the largest DeFi platforms and is governed by UniswapDAO. The application has added support for new languages, and it can now be used in English, Spanish, Japanese, Portuguese, French, and Chinese.
“We hear from our Twitter replies and community asking when our Android app will be released.”
Capuozzo stated that the application is now accessible to everyone due to the increasing demand.
At the time of writing, the UNI Coin price is at $5.11. It has been negatively affected by BTC fluctuations and may drop to new lows after being rejected at $5.6. Weekly closes below $4.65 have the potential to bring the price down to $4.
On the daily chart, the $5 support level, tested for the second time after the recent uptrend, appears to be strong. UNI Coin investors may witness a new low between $4.87 and $4.6 if the price closes below $5.06. For now, with BTC price surpassing $36,000 again, a downtrend scenario can be expected.
The critical resistance levels for an uptrend are $5.5 and $5.9. If the price surpasses these levels, the next strong resistance at $6.68 can be targeted. This is followed by $7.5 and $9.62 as further targets. If the coming year unfolds as expected, we may witness UNI Coin breaking through these levels one by one.