Here is why $UNI UNISWAP did 55% in 24hours
Within a 24hour period $UNI experienced a remarkable price surge,skyrocketing by 55% from $7.15 to an impressive peak of $12.77, marking a 79% increase but there is a justified question:what catalyzed such a significant surge in UNI value.?
The phenomenal ascent in UNI price can be directly attributed to uniswap Latest governance proposal
In this case,the venture capital firm a16z which holds 64million uni token valued at approximately $720million or 6.4% of UNI total supply has a potential decisive influence over the vote .with a qurom threshold of merely 4% of the UNI supply for a yes vote the power wielded by a16z is substantial
further research reveals that a16z received this massive allocation of uni from wallets designated for the uniswap team,investors and advisors.this strategic distribution to 31 distinct wallets could significantly affect the outcome of governance vote, providing the ability to sway decisions moreover a surge of buying power was detected ahead of if UNI price increase suggesting that insider knowledge may have been at play certain individuals or entities may have acted on non public information regarding the proposal impact on UNI value.
From a price performance perspective, uniswap token is showing a common pump scheme where the price of an asset surge unnaturally with high votality as for now a mild correction has taken place. We might also expect an aggravation of the current price action due to active profit taking among mid and long term investors…!
Did you miss the $UNI surge in price…?