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It's Big & Big #alert About $UNI Price 20% Jumping !!!
Uniswap price jumps 20% as UNI hints at massive breakout
Uniswap price jumped more than 20% in 24 hours to trade at $10.99, its highest level since early April.
A bullish outlook suggests increased buying pressure could
push UNI towards highs of $15.40 reached in March.
Uniswap price and the ETH ecosystem
UNI is the native token of the leading DEX platform, likely one of the top beta plays around the spot Ethereum ETF approval.
On Friday, Uniswap price defied marketwide consolidation, with the price of Ethereum (ETH) hovering above $3,700. As most altcoins looked to bounce off key support levels, UNI price rose more than 20% to touch a multi-week peak of $10.95.
This comes as whales increasingly withdraw UNI from exchanges. According to on-chain details shared by Lookonchain on X, one such whale withdrew $1.96 million in UNI from Binance as price rose.
Uniswap’s upside momentum has also strengthened amid the unveiling of ERC-7683.
This new token standard is a collaboration between Uniswap Labs and Across Protocol and aims at streamlining cross-chain trading via a “unified framework for cross-chain intents systems.”
UNI surges after Uniswap response to SEC
Breaching the critical $10 mark also came amid a rising bullish sentiment around Uniswap’s regulatory outlook.
Earlier this week, Uniswap Labs’ reiterated its readiness to fight the SEC’s potential lawsuit following a recent Wells Notice.
According to Uniswap, the SEC is “wrong” in its assertions that the DEX platform is an unregistered securities exchange and broker-dealer.
The allegation that UNI is a security is also wrong, with SEC’s theories around it “weak” Uniswap wrote in a response to the regulator.
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