Altcoin on the rise; The reason is the claim that it will receive $100 million investment

Uniswap, one of the first projects that comes to mind when it comes to the Decentralized Finance (DeFi) ecosystem, recently announced its first grant program. Today, another new development regarding Uniswap was recorded.

TechCrunch, based on 4 sources, stated that Uniswap is preparing for a new round of financing and is working to raise between $100 million and $200 million in equity capital at a valuation of $1 billion. Sources said the investors include Polychain and one of Singapore's leading funds, but noted that the terms may change as the deal has not been finalized. Uniswap is known as a decentralized cryptocurrency exchange built on the Ethereum blockchain. In addition, it accounts for 64% of the volume in DEXs. Uniswap's continued work to put its new plans into action was welcomed positively by investors. UNI, which reached a valuation of $22.5 billion during the 2021 bull, is currently valued at $ 5 billion. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account! The investment information, comments and recommendations in this article do not constitute investment advice. Investment advisory services are provided individually, taking into account the risk and return preferences of individuals. The content contained herein is in no way directive and the recommendations are general in nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in accordance with your expectations.