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ZEC $1,312 UNI price holds near $9 as Uniswap Labs partners with SMBC Nikko
Uniswap Labs and SMBC Nikko Securities signed an MoU to build a DeFi Gateway using Uniswap v4 Hooks, targeting a mid-2027 launch.
Key takeaways
- UNI trades near $9. Uniswap traded at $9.11 on October 2 and $8.91 on October 3, up 0.65% each day.
- Open interest stays high. Uniswap open interest rose from $491 million in mid-September to a peak of $971 million, easing to $915 million.
- Launch targeted for mid-2027. SMBC Nikko Securities and Uniswap Labs plan to launch the DeFi Gateway by mid-2027.
What happened
Uniswap (UNI) traded at $9.11 on October 2, up 0.65%, according to CoinGape. CoinCentral reported UNI at $8.91 on October 3, also up 0.65%. Both reports noted Bitcoin (BTC) reclaiming $86,000 as the broader crypto market recovered.
SMBC Nikko Securities, Japan's third-largest brokerage, signed a memorandum of understanding with Uniswap Labs, Base, and Nyx Foundation. The group plans to build a DeFi Gateway for the Japanese market using Uniswap v4 Hooks to create liquidity pools that follow anti-money laundering and counter-terrorism financing rules. The firms target a mid-2027 launch and will share progress with Japanese regulators, including the Financial Services Agency.
Nethermind said it will co-lead the technical side of the project with SMBC Nikko, covering engineering, AI strategy, and smart contract security. Base, the Ethereum layer-2 network built by Coinbase, is also part of the agreement.
Why it matters
The partnership follows a Standard Chartered forecast that Uniswap's liquidity pools could hold 37 times more assets by 2030. The bank also forecast that UNI price could rise 40 times over four years.
Analysts are watching key levels. Team LAMBO Charts pointed to $11 as the next test. Crypto With Gopal described a falling wedge on the 1-hour chart with a possible breakout target near $11.50. Another analyst, CW, said UNI's net position delta has been rising during sideways trading.
What the data shows
CoinGlass data shows Uniswap's open interest rose from $491 million in mid-September to a peak of $971 million by month's end. It has since eased to $915 million. The funding rate for UNI remains positive, but the long/short ratio on Binance dropped from 1.86 to 1.57.
On the daily chart, the RSI reads 60.27. CoinGlass data shows liquidation clusters near $8.85 on the downside and $9.35 on the upside. UNI needs to reclaim $9.16 and clear $9.35 to set up another run at the $10.30 resistance zone. CoinGape noted support at the 20-day EMA of $8.48 and resistance at the 78.7% Fib of $9.26.
Background
The DeFi Gateway plan comes four months after Standard Chartered forecast that Uniswap's liquidity pools could have 37 times more assets by 2030. The bank also said UNI price could surge 40 times in the next four years. SMBC Nikko Securities ranks as Japan's third-largest brokerage.
What is still unclear
- The reports do not specify an exact launch date beyond mid-2027.
Questions readers ask
What is the Uniswap and SMBC Nikko partnership?
SMBC Nikko Securities signed a memorandum of understanding with Uniswap Labs, Base, and Nyx Foundation to build a DeFi Gateway for the Japanese market. The platform will use Uniswap v4 Hooks for AML and CFT compliant liquidity pools.
When will the Uniswap DeFi Gateway launch?
The firms plan to launch the DeFi platform by mid-2027. Progress will be shared with Japanese regulators, including the Financial Services Agency.
What is Uniswap's current price?
CoinGape reported UNI at $9.11 on October 2, up 0.65%. CoinCentral reported UNI at $8.91 on October 3, also up 0.65%.
What do analysts say about UNI price?
Team LAMBO Charts pointed to $11 as the next test. Crypto With Gopal described a falling wedge with a possible breakout target near $11.50. CW said net position delta has been rising.
