Here's the Key Reason Why Uniswap (UNI) Surged 7% This Past Week

Uniswap (CRYPTO: UNI) that allow investors and traders to buy and sell cryptocurrencies on a decentralized exchange.

Uniswap (CRYPTO: UNI) investors and traders can now move their assets between several popular blockchains thanks to a new capability on the decentralized exchange.

The addition of cross-chain bridging to Uniswap will make it easier for users to shift their crypto holdings between different networks, opening up new possibilities for traders and investors. Here's a closer look at the latest development and what it could mean for UNI.

What Happened: Several new capabilities were introduced by Uniswap on Friday, including cross-chain bridging. This capability will allow users to shift their assets between several popular blockchains.

At the launch of the new capability, only stablecoins and the native tokens of the connected networks will be available for bridging.

This capability is expected to be expanded over time to include additional tokens and networks.

Uniswap is now directly connected with several networks, including Ethereum (CRYPTO: ETH), Polygon (CRYPTO: MATIC), Arbitrum (CRYPTO: ARB), and Base.

This direct connection will enable users to bridge their assets between these networks quickly and easily.

"This is a major step forward for Uniswap and the broader crypto community," said a statement from Uniswap. "With the addition of cross-chain bridging, users can now move their assets between several of the most popular blockchains in a decentralized and efficient manner."

The launch of cross-chain bridging on Uniswap is a highly anticipated development that will significantly benefit the platform's users.

This capability will make it easier for users to shift their assets between different blockchains, opening up new possibilities for traders and investors.

"We believe this new capability will drive further adoption of Uniswap and the decentralized finance (DeFi) ecosystem," the statement added.

UNI Price Action: At the time of publication, UNI was trading at $6.34, up 7% over the past seven days.

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