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Why Uniswap Price Is Up 17% Today?

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The Uniswap price surged 17% on Thursday on the back of Uniswap Labs’ recent announcement of its new Ethereum layer-2 network. This development is set to increase the decentralized exchange’s native token $UNI’s utility. Uniswap mentioned that the network will go live on the testnet today, with the mainnet expected to come sometime later this year.