Uniswap Price Skyrockets as Open Interest Hits Yearly High

Uniswap's price has been on a tear since September, with the token gaining 64.05% over the past seven days and reaching a new yearly high in open interest near $971 million.

The surge in derivatives activity has brought Uniswap above several major technical levels and pushed it close to a key Fibonacci extension at $10.96.

The exchange's planned futures launch on October 19 by CME Group could further expand institutional access to Uniswap derivatives, potentially increasing market participation and volatility.