• bitcoinBitcoin (BTC) $ 63,439.00
  • ethereumEthereum (ETH) $ 2,481.60
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 578.49
  • solanaSolana (SOL) $ 147.06
  • usd-coinUSDC (USDC) $ 1.00
  • xrpXRP (XRP) $ 0.541942
  • staked-etherLido Staked Ether (STETH) $ 2,480.38
  • dogecoinDogecoin (DOGE) $ 0.112060
  • tronTRON (TRX) $ 0.163251
  • the-open-networkToncoin (TON) $ 5.30
  • cardanoCardano (ADA) $ 0.356238
  • avalanche-2Avalanche (AVAX) $ 29.24
  • shiba-inuShiba Inu (SHIB) $ 0.000018
  • wrapped-stethWrapped stETH (WSTETH) $ 2,926.51
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 63,334.00
  • wethWETH (WETH) $ 2,477.84
  • chainlinkChainlink (LINK) $ 11.12
  • bitcoin-cashBitcoin Cash (BCH) $ 331.73
  • suiSui (SUI) $ 2.24
  • polkadotPolkadot (DOT) $ 4.26
  • uniswapUniswap (UNI) $ 7.95
  • nearNEAR Protocol (NEAR) $ 4.90
  • daiDai (DAI) $ 1.00
  • leo-tokenLEO Token (LEO) $ 6.01
  • bittensorBittensor (TAO) $ 676.95
  • litecoinLitecoin (LTC) $ 66.36
  • aptosAptos (APT) $ 9.21
  • pepePepe (PEPE) $ 0.000010
  • wrapped-eethWrapped eETH (WEETH) $ 2,601.83
  • internet-computerInternet Computer (ICP) $ 8.20
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.46
  • kaspaKaspa (KAS) $ 0.138223
  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • moneroMonero (XMR) $ 154.26
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.375097
  • ethereum-classicEthereum Classic (ETC) $ 18.92
  • dogwifcoindogwifhat (WIF) $ 2.78
  • stellarStellar (XLM) $ 0.092426
  • blockstackStacks (STX) $ 1.78
  • immutable-xImmutable (IMX) $ 1.57
  • okbOKB (OKB) $ 42.31
  • ethena-usdeEthena USDe (USDE) $ 0.999012
  • aaveAave (AAVE) $ 148.62
  • render-tokenRender (RENDER) $ 5.57
  • whitebitWhiteBIT Coin (WBT) $ 15.17
  • optimismOptimism (OP) $ 1.73
  • filecoinFilecoin (FIL) $ 3.64
  • crypto-com-chainCronos (CRO) $ 0.077647
  • injective-protocolInjective (INJ) $ 20.98
  • mantleMantle (MNT) $ 0.609548
  • fantomFantom (FTM) $ 0.701229
  • arbitrumArbitrum (ARB) $ 0.542420
  • hedera-hashgraphHedera (HBAR) $ 0.051944
  • vechainVeChain (VET) $ 0.022946
  • thorchainTHORChain (RUNE) $ 5.09
  • cosmosCosmos Hub (ATOM) $ 4.37
  • sei-networkSei (SEI) $ 0.477733
  • the-graphThe Graph (GRT) $ 0.168229
  • bonkBonk (BONK) $ 0.000022
  • bitget-tokenBitget Token (BGB) $ 1.09
  • popcatPopcat (POPCAT) $ 1.53
  • binance-peg-wethBinance-Peg WETH (WETH) $ 2,481.57
  • flokiFLOKI (FLOKI) $ 0.000142
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,774.04
  • theta-tokenTheta Network (THETA) $ 1.31
  • mantra-daoMANTRA (OM) $ 1.53
  • arweaveArweave (AR) $ 19.64
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,585.11
  • makerMaker (MKR) $ 1,378.27
  • celestiaCelestia (TIA) $ 5.54
  • pyth-networkPyth Network (PYTH) $ 0.327198
  • gatechain-tokenGate (GT) $ 9.16
  • heliumHelium (HNT) $ 6.69
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 63,372.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.809459
  • worldcoin-wldWorldcoin (WLD) $ 2.06
  • ondo-financeOndo (ONDO) $ 0.724901
  • algorandAlgorand (ALGO) $ 0.123912
  • matic-networkPolygon (MATIC) $ 0.376271
  • kucoin-sharesKuCoin (KCS) $ 8.24
  • quant-networkQuant (QNT) $ 67.25
  • lido-daoLido DAO (LDO) $ 1.09
  • based-brettBrett (BRETT) $ 0.097358
  • jasmycoinJasmyCoin (JASMY) $ 0.019540
  • ethenaEthena (ENA) $ 0.332411
  • bitcoin-svBitcoin SV (BSV) $ 45.88
  • neiro-3Neiro (NEIRO) $ 0.002153
  • bittorrentBitTorrent (BTT) $ 0.00000093
  • galaGALA (GALA) $ 0.021992
  • wormholeWormhole (W) $ 0.322494
  • coredaoorgCore (CORE) $ 0.937233
  • flowFlow (FLOW) $ 0.553327
  • fasttokenFasttoken (FTN) $ 2.56
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 2,469.75
  • notcoinNotcoin (NOT) $ 0.008036
  • starknetStarknet (STRK) $ 0.426084
  • beam-2Beam (BEAM) $ 0.015858
  • aerodrome-financeAerodrome Finance (AERO) $ 1.26
  • spx6900SPX6900 (SPX) $ 0.875578
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,526.40
  • conflux-tokenConflux (CFX) $ 0.175271
  • msolMarinade Staked SOL (MSOL) $ 179.75
  • elrond-erd-2MultiversX (EGLD) $ 27.67
  • klay-tokenKlaytn (KLAY) $ 0.129811
  • neoNEO (NEO) $ 10.66
  • ordinalsORDI (ORDI) $ 35.76
  • usddUSDD (USDD) $ 1.00
  • flare-networksFlare (FLR) $ 0.014896
  • axie-infinityAxie Infinity (AXS) $ 4.78
  • eosEOS (EOS) $ 0.479465
  • mog-coinMog Coin (MOG) $ 0.000002
  • eigenlayerEigenlayer (EIGEN) $ 3.87
  • nervos-networkNervos Network (CKB) $ 0.015789
  • tezosTezos (XTZ) $ 0.700112
  • ecasheCash (XEC) $ 0.000035
  • axelarAxelar (AXL) $ 0.839815
  • tokenize-xchangeTokenize Xchange (TKX) $ 8.48
  • paypal-usdPayPal USD (PYUSD) $ 1.00
  • pendlePendle (PENDLE) $ 4.19
  • tether-goldTether Gold (XAUT) $ 2,657.37
  • fraxFrax (FRAX) $ 0.997532
  • the-sandboxThe Sandbox (SAND) $ 0.266434
  • akash-networkAkash Network (AKT) $ 2.57
  • chilizChiliz (CHZ) $ 0.069420
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 63,333.00
  • mina-protocolMina Protocol (MINA) $ 0.538503
  • aleoALEO (ALEO) $ 3.00
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.006890
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 2,544.60
  • sats-ordinalsSATS (Ordinals) (SATS) $ 0.00000029
  • dydx-chaindYdX (DYDX) $ 0.926957
  • ethereum-name-serviceEthereum Name Service (ENS) $ 17.41
  • roninRonin (RON) $ 1.61
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.005652
  • decentralandDecentraland (MANA) $ 0.301452
  • nexoNEXO (NEXO) $ 0.998344
  • superfarmSuperVerse (SUPER) $ 1.20
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 63,636.00
  • zcashZcash (ZEC) $ 35.10
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 2,480.13
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.88
  • aioz-networkAIOZ Network (AIOZ) $ 0.465809
  • beldexBeldex (BDX) $ 0.077832
  • pax-goldPAX Gold (PAXG) $ 2,670.37
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000090
  • turboTurbo (TURBO) $ 0.007392
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 2,483.52
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 2,677.43
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 153.64
  • book-of-memeBOOK OF MEME (BOME) $ 0.007209
  • true-usdTrueUSD (TUSD) $ 0.999183
  • apecoinApeCoin (APE) $ 0.733827
  • zksyncZKsync (ZK) $ 0.134664
  • havvenSynthetix Network (SNX) $ 1.50
  • dexeDeXe (DEXE) $ 8.59
  • oasis-networkOasis (ROSE) $ 0.071839
  • gigachad-2Gigachad (GIGA) $ 0.050414
  • raydiumRaydium (RAY) $ 1.81
  • arkhamArkham (ARKM) $ 1.68
  • baby-doge-coinBaby Doge Coin (BABYDOGE) $ 0.00000000
  • layerzeroLayerZero (ZRO) $ 4.24
  • safeSafe (SAFE) $ 0.954224
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.12
  • blurBlur (BLUR) $ 0.236404
  • celoCelo (CELO) $ 0.817742
  • gnosisGnosis (GNO) $ 174.07
  • metaplexMetaplex (MPLX) $ 0.450362
  • astarAstar (ASTR) $ 0.060515
  • livepeerLivepeer (LPT) $ 12.53
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 1.00
  • iotaIOTA (IOTA) $ 0.124596
  • frax-etherFrax Ether (FRXETH) $ 2,468.08
  • xdce-crowd-saleXDC Network (XDC) $ 0.028399
  • dydxdYdX (ETHDYDX) $ 0.927919
  • apenftAPENFT (NFT) $ 0.00000042
  • theta-fuelTheta Fuel (TFUEL) $ 0.061760
  • constitutiondaoConstitutionDAO (PEOPLE) $ 0.080364
  • usdbUSDB (USDB) $ 1.01
  • l2-standard-bridged-weth-blastL2 Standard Bridged WETH (Blast) (WETH) $ 2,473.58
  • echelon-primeEchelon Prime (PRIME) $ 8.51
  • dogs-2Dogs (DOGS) $ 0.000781
  • super-oethSuper OETH (SUPEROETHB) $ 2,473.33
  • compound-governance-tokenCompound (COMP) $ 45.43
  • bitcoin-goldBitcoin Gold (BTG) $ 22.24
  • stepnGMT (GMT) $ 0.133496
  • osmosisOsmosis (OSMO) $ 0.558316
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.06
  • ethereum-pow-iouEthereumPoW (ETHW) $ 3.55
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 63,248.00
  • kavaKava (KAVA) $ 0.349436
  • iotexIoTeX (IOTX) $ 0.039536
  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 1.00
  • polygon-pos-bridged-weth-polygon-posPolygon PoS Bridged WETH (Polygon POS) (WETH) $ 2,478.17
  • bitcoin-avalanche-bridged-btc-bBitcoin Avalanche Bridged (BTC.b) (BTC.B) $ 63,251.00
  • dymensionDymension (DYM) $ 1.70
  • reserve-rights-tokenReserve Rights (RSR) $ 0.006783
  • safepalSafePal (SFP) $ 0.716756
  • golemGolem (GLM) $ 0.340929
  • 1inch1inch (1INCH) $ 0.263112

Is Trader Joe (JOE) A Hidden Gem Poised to Outperform Uniswap (UNI)?

0 128

In decentralized finance (DeFi) and trading, Uniswap has long reigned as a dominant force. However, a recent analysis by Lark Davis, a Bitcoin (BTC) investor, seems to suggest Trader Joe, a decentralized exchange (DEX) on Avalanche–a highly scalable blockchain and Ethereum’s competitor, could eventually emerge as a formidable competitor, even overtaking Uniswap.

Is Trader Joe Undervalued Relative To Uniswap?

In a post on X on December 12, Davis noted a discrepancy in the relative valuation between JOE and UNI, which serve as governance tokens of Uniswap and Trader Joe. Specifically, the investors noted that Trader Joe’s handles around $300 million daily trading volume on Avalanche alone.

On the other hand, Uniswap processes approximately $1.6 billion in daily volume across the Ethereum mainnet and Arbitrum, the largest layer-2 platform by total value locked (TVL) by Ethereum.

Davis further noted that despite this “small” difference in trading volume, Trader Joe’s has a market capitalization of only $238 million. Meanwhile, Uniswap has a market cap of $3.6 billion, according to CoinMarketCap data.

Even with relatively narrow average trading volume, the huge difference in market capitalization suggests that JOE is significantly undervalued relative to UNI. Accordingly, this gap will likely be narrowed in the future, with JOE appreciating versus UNI, possibly benefiting holders.

JOE Yields Versus UNI’s Governance: Which Token Has An Edge?

Davis also pointed out JOE’s potential, saying the token rewards holders with USDC yields. This is different from UNI, where holders can vote on proposals and nothing else. In the investor’s preview, besides the undervaluation, this feature could further enhance JOE’s appeal, even contributing to its upside potential.

As the crypto market recovers, Avalanche might also present additional advantages to traders and, therefore, Trader Joe. The modern blockchain is scalable and has relatively low fees regardless of network activity. With crypto prices expanding, Ethereum gas fees have been rising in tandem, discouraging mainnet transfers. This has rerouted activity to layer-2s like Arbitrum and competing platforms, including Avalanche.

Is Trader Joe (JOE) A Hidden Gem Poised to Outperform Uniswap (UNI)?

When writing on December 12, DeFiLlama data shows that Trader Joe has a TVL of $149 million, of which most assets are tied to Avalanche. Only $1 million is on Ethereum. JOE has been on an uptrend, rising 170% from October 2023 lows. The token is cooling off, looking at price action on the daily chart.

Feature image from Canva, chart from TradingView Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source

Leave A Reply

Your email address will not be published.