This week the DeFi UniSwap protocol distributed its UNI Token to the governance of its community, and so UNI was listed by major exchanges around the world.
However, the UniSwap protocol is not the only one that uses the UNI acronym or ticker, and this must have caused confusion in the minds of many investors.
Currently there is already the cryptocurrency Universe, Token Uni Coin, and Token Unicorn that also use the UNI ticker as identification.
UniSwap Token
Since its launch on September 17, the UNI Token of the DeFi UniSwap protocol has grown significantly, with a ROI of 408%.
At the time of this writing, despite undergoing a -25% correction, the Token was already ranked 34th in the market capitalization ranking of CoinMarketCap.
Apparently pulled by the DeFis Hype, all protocols that use the UNI ticker showed non-standard price movements in this period. Let's see:
Token Uni Coin
The Token Uni Coin that has existed since 2019, for example, was priced at approximately $ 0.48 dollars until September 16.
In the following days the asset showed greater price volatility, there was a substantial increase in the volume of trades, and its price rose to US $ 0.50 dollars.
Universe Cryptocurrency
Developed in mid-2017 for use on gaming platforms, Universe's UNI has already undergone great price increases, as in the 2017/18 bull run.
Since February this year, the value of the cryptocurrency has not exceeded $ 0.0016 dollars.
However, after September 16, with the increase in trading volume, the crypto presented strong volatility with an increase of more than 50% of its value reaching US $ 0.0024 cents.
It subsequently dropped by more than 60% (US $ 0.0008), and at the time of writing this report it still maintained a higher volume of negotiations.
Token Unicorn
To corroborate the assumption of the UNIs deceit, Token Unicorn was the one with the highest volatility and the biggest jump in value.
That's because the mascot of the UniSwap Protocol is a unicorn, and thus may have further confused the UNI of the Swap protocol with the UNI of the Unicorn.
The Unicorn Token has been around since 2019, and now in 2020 it showed great volatility in April and May.
But in mid-August with the launch of the DeFi UniSwap Swap protocol, Unicorn's UNI jumped 436%, but returned everything a day later, plummeting 89%.
Now, with the DeFi UniSwap UNI Token listing, Unicorn's UNI jumped absurdly 1,087%. And as expected, it returned 72% to the market.
It is well known that a DeFi project only needs to deliver its tokens to the governance of the community that the exchanges run to list them.
Many DeFi projects have turned out to be Scams and have taken the money of many investors still at ICO.
Other DeFi projects have been delivered without completing audits or presenting governance problems and are showing major failures.
If that were not enough, now we have the exchange of the acronyms UNI as another surreal story to tell.
