UNI's token Uniswap has just been released on the Ethereum mainnet. Soon after, Coinbase Pro and Binance announced the listing event on their platform, and the market price of UNI immediately skyrocketed (up to 300%).
Notice comes from Coinbase
According to a blog post, US-based crypto exchange Coinbase Pro has announced the listing of the newly released governance token of Uniswap, UNI.
Coinbase just enabled the "transfer-only" mode for UNI and said that all users of the 'supported jurisdictions' will be able to access the UNIUSD market, 'except for the state of New York.'
Our UNI-USD order book will now enter transfer-only mode, accepting inbound transfers in supported regions. Orders cannot be placed or filled. Trading will begin on September 17, if liquidity conditions are met. https://t.co/2SGc6UyoS3
- Coinbase Pro (@CoinbasePro) September 17, 2020
Trading of UNI assets will only commence when there is sufficient liquidity that meets Coinbase Pro's requirements. Uniswap's administrative token transaction access is still not available to users on the regular Coinbase and Coinbase mobile apps.
It's important to note that Coinbase is an investor of the UNI token, has stakes in Uniswap's parent company and intends to hold them in the near future.
The announcement came from Binance
Binance also not to be left behind after also announcing trading for the UNI / BTC, UNI / BNB, UNI / BUSD and UNI / USDT pairs. And that's not all.
Immediately after announcing supporting Uniswap's governance token, Binance continued to list "UNI USDT-Margin perpetual contract with leverage up to x50" on its future platform with USDT as a basic collateral. .
- Binance (@binance) September 17, 2020
UNI prices soared
In response to the listing announcement, Uniswap's governance token soared from $ 1 to nearly $ 4, marking a nearly 300% increase from the original price.
But the frenetic growth of the UNI price led to the gas price on the Ethereum blockchain soaring. Specifically, the gas price has increased to a maximum of 800 gwei, leading to the user having to wait 10 minutes to 4 hours to confirm the transaction.