Uniswap Receives Largest Allocation on the New Grayscale Decentralized Finance Fund
July 21, 2021
Grayscale Investments recently announced the launch of a Decentralized Finance (DeFi) Fund, with Uniswap (UNI) receiving the most allocation; 49.95%.
The Grayscale Decentralized Finance Fund will grant investors access to the top ten DeFi protocols based on market capitalization in a weighted portfolio designed to track the CoinDesk DeFi Index.
A breakdown of the allocation slots for the DeFi protocols on the fund are as follows:
Uniswap (UNI) – 49.95%
Aave (AAVE) – 10.25%
Compound (COMP) – 8.38%
Curve (CRV) – 7.44%
MakerDAO (MKR) – 6.49%
SushiSwap (SUSHI) – 4.83%
Synthetix (SNX) – 4.43%
Yearn Finance (YFI) – 3.31%
UMA Protocol (UMA) – 2.93%
Bancor Network Token (BNT) – 2.00%
The Grayscale Decentralized Finance Fund is the investment company’s 15th investment product. The CEO of the firm, Michael Sonnenshein, explained that:
“Grayscale continues to focus on creating opportunities for investors to access new, exciting parts of the digital asset ecosystem.
The emergence of decentralized finance protocols provides clear examples of technologies that can redefine the future of the financial services industry. We’re proud to offer investors exposure to DeFi through Grayscale’s trusted, secure, and industry-leading investment product structures.”
Key Uniswap Levels to Watch — July 21
Following a debilitating crash over the past few days, Uniswap appears to have bottomed at a one-month low at $14.00. The eleventh-largest cryptocurrency has posted a mild rebound to the $15.60 level as bulls find a grip.
That said, the immediate target for bulls is the $16.75 resistance level, strengthened by the 50 SMA. A break above that level could place the cryptocurrency back on track for recovery. While UNI is up by about 8% intraday, this could be a necessary correction for bears to push prices lower.
Meanwhile, our resistance levels are $16.70, $18.00, and $19.30, and our support levels are $15.00, $14.00, and $13.75.
Total Market Capitalization: $1.26 trillion
Uniswap Market Capitalization: $9.18 billion
Uniswap Dominance: 0.73%
Market Rank: #11