The Ethereum token Serum went up 1000% yesterday in its first day of trading:
Today it’s up to $1.79, or 38%.
That’s not the only token that’s popping. The tendies token is up more than 400% since being listed July 30th.
But you can’t buy these magical tokens at your friendly neighbourhood discount brokerage.
Behold the new favourite exchange for North American cryptocurrency traders: Uniswap.
Over the last few months, Uniswap has exploded in popularity, with trading volume of $277 million USD in just the last 24 hours.
Uniswap just one of the many DAPPs (Distributed Applications) built on the Ethereum network.
It’s a decentralized exchange allowing anybody to trade Ethereum for any ERC-20 token in the Ethereum eco-system.
Obviously 99% of all ERC-20 tokens are crap and will eventually go to zero. In the meantime, most traders are riding the mania train and hoping the greater fool will bail them out.
1. None of what I write should be construed as advice on investing.
2. Yes,I have bought tokens on Uniswap. But I’m not planning to tell anybody which tokens.