Uniswap (UNI) Gains 9% as Governance Proposal Fuels Bullish Momentum
Over the past 12 hours, Uniswap (UNI) has shown promising performance, trading at $7.55 , reflecting a 1.9% increase in the last 24 hours and a 9.9% rise over the past week. The current market cap stands at $4.57 billion , with a 24-hour trading volume of $234.56 million ​( MarketBeat )​( CoinGecko ).
Key Market Drivers:
Governance Proposal Sparks Rally : Uniswap's recent surge is largely attributed to a revenue-sharing governance proposal aimed at rewarding long-term token holders who stake their UNI tokens. This proposal has driven significant on-chain activity, causing the price to jump over 50% earlier this week as investors reacted positively to the long-term incentive structure​( CoinMarketCap ).
Technical Overview : UNI has recently broken out of a resistance level near $7.34 , and analysts suggest that if bullish momentum continues, the next major target could be $10 . Support levels are holding near $6.50 , making it a key price point to watch for potential retracement​( Blockworks )​( CoinGecko ).
Global Developments : Uniswap remains the most widely used decentralized exchange, with its v3 upgrade improving liquidity efficiency and reducing fees, contributing to its dominance. The launch of uni.eth subdomains , simplifying wallet addresses, also reflects Uniswap’s ongoing push toward broader adoption in the Web3 ecosystem​( Blockworks )​( CoinMarketCap ).
Read More: https://onthenode.com/cryptocurrency/uniswap-uni-gains-9-as-governance-proposal-fuels-bullish-momentum
Over the past 12 hours, Uniswap (UNI) has shown promising performance, trading at $7.55 , reflecting a 1.9% increase in the last 24 hours and a 9.9% rise over the past week. The current market cap stands at $4.57 billion , with a 24-hour trading volume of $234.56 million ​( MarketBeat )​( CoinGecko ).
Key Market Drivers:
Governance Proposal Sparks Rally : Uniswap's recent surge is largely attributed to a revenue-sharing governance proposal aimed at rewarding long-term token holders who stake their UNI tokens. This proposal has driven significant on-chain activity, causing the price to jump over 50% earlier this week as investors reacted positively to the long-term incentive structure​( CoinMarketCap ).
Technical Overview : UNI has recently broken out of a resistance level near $7.34 , and analysts suggest that if bullish momentum continues, the next major target could be $10 . Support levels are holding near $6.50 , making it a key price point to watch for potential retracement​( Blockworks )​( CoinGecko ).
Global Developments : Uniswap remains the most widely used decentralized exchange, with its v3 upgrade improving liquidity efficiency and reducing fees, contributing to its dominance. The launch of uni.eth subdomains , simplifying wallet addresses, also reflects Uniswap’s ongoing push toward broader adoption in the Web3 ecosystem​( Blockworks )​( CoinMarketCap ).
Read More: https://onthenode.com/cryptocurrency/uniswap-uni-gains-9-as-governance-proposal-fuels-bullish-momentum
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