Big moves are happening in crypto this week.

Uniswap’s (UNI) latest update has sparked some serious chatter, and the token is seeing a significant price pump.

Meanwhile, traders are also keeping an eye on meme coin DeFi project Crypto All-Stars (STARS).

It’s now raised $2.1 million in presale – with some speculating STARS could be next to rally.

UNI Price Rallies as Open Interest Spikes 21%

Uniswap has had a wild week.

UNI is now trading at $8.03, the highest in nearly three months.

It’s up 15% since Tuesday’s low, though it did give up a bit of ground after peaking earlier today with a 20% surge.

The hype around Uniswap right now is evident in the numbers.

UNI is ranked highly on CoinMarketCap’s trending cryptos list, and the token has also snagged 12th place among the most traded cryptocurrencies.

Open interest has also spiked 21% to $114 million, a level not seen since mid-June.

All of this has occurred while the crypto market is still reeling from the losses earlier in the week.

Clearly, investors are still prepared to gain exposure to UNI, believing its price will continue rising despite the broader conditions.

Top trader InvestingHaven on Twitter even speculated UNI could “pop off.”

With the bullishness showing no signs of slowing, Uniswap might be on track to hit the $10 mark sooner than most had anticipated.

Unichain Launch Drives Uniswap’s Price Growth

So, what’s behind Uniswap’s jump?

The main reason is that the developers just rolled out Unichain, its new Layer-2 solution.

And it could shake up the DeFi space in a big way.

According to reports, Unichain could cut transaction fees by up to 95% compared to Ethereum’s mainnet while speeding things up with block times as low as 250 milliseconds.

To put that in perspective, that’s like upgrading from a dial-up connection to fiber-optic speeds.