Uniswap faces SEC scrutiny following a Wells notice, triggering a sharp 20% decline in UNI token value.SEC's potential action is part of broader crypto market regulation efforts.Uniswap defends its stance, arguing against the classification of most tokens as securities.Despite the market reaction, analysts view this as a strategic buying window, suggesting an entry point near $8.27 or lower.

Alternative Text:
Wells Notices and Regulatory Frameworks
A Wells notice, in simple terms, is akin to a warning letter from the Securities and Exchange Commission (SEC), signaling impending legal action against an organization. Under the current SEC chairman, Gary Gensler, several crypto companies, including Ripple, Binance, and Coinbase, have faced regulatory scrutiny since 2020. Gensler has been vocal about the need for robust regulation in what he refers to as the "Wild West" of the crypto industry. The Wells notice issued to Uniswap is part of a broader enforcement action targeting the entire crypto market.
Uniswap Reacts
Uniswap's founder and CEO, Hayden Adams, expressed frustration on Twitter upon receiving the notice. He emphasized his readiness to defend Uniswap, arguing that the majority of tokens traded on the platform are not securities but stablecoins, utility tokens, or commodities like Bitcoin and Ethereum. Uniswap contends that cryptocurrencies are digital files capable of storing various forms of value, akin to PDFs or spreadsheets. Despite Uniswap's arguments, the price of its token, $UNI , has plummeted by nearly 20% over the last 24 hours.
Is This a Massive Buying Opportunity?
Analyzing Uniswap's price action, it appears to be in a significant decline, trading below key moving averages. While it could be considered a valid buy opportunity, investors may opt to wait for potential support around $8.27, the previous local high from late November. If $8.27 support fails, a lower entry point around $5.55 could be targeted. Despite the apparent opportunity presented by Uniswap's price decline, investors are cautioned to proceed with caution and conduct thorough research due to the volatile nature of cryptocurrencies.

$UNI

#VOC #VoiceOfCrypto #CryptoNews #Crypto #UniSwap

- The crypto market experienced a bullish surge in the last 24 hours, with the total market cap increasing by 3%.
- Bitcoin is spearheading the recovery. Breaking above the $71,515 resistance is essential for a potential retest of its previous all-time high.
- Ethereum's dominance is decreasing. Despite solid support at $3,720, Ethereum bulls need to gain momentum to stay competitive.
- Floki Inu has made a comeback over several weeks and needs to close above $0.000315 daily to confirm a bullish trend.
- Uniswap is recovering strongly, surpassing $9.3. Bulls are facing resistance at $11.89.
In the past 24 hours, the crypto market has shown significant bullish activity, with the total market capitalization increasing by 3%. Bitcoin, in particular, is making a notable effort to surpass the $71,000 mark, an event that hasn't occurred in weeks. The overall market heatmap reflects this positive trend, as nearly every cryptocurrency is trading in the green at present.
Bitcoin's dominance appears to be on the rise once again. Over the past day, almost every cryptocurrency has experienced gains, signaling a strong market-wide recovery. The heatmap of crypto liquidations from the past 24 hours mirrors the previous day’s data, with a crucial difference: today, the bears are bearing the brunt of losses.
In the last 24 hours, bulls have incurred losses of around $39 million due to liquidations, while bears have lost approximately $74 million, indicating a decisive bullish shift. From these observations, it's clear that bulls currently dominate the market, and Bitcoin seems poised to attempt reclaiming the $73,000 zone soon.
Bitcoin: Nearing a Crucial Breakthrough
Bitcoin's consolidation period, lasting over two months, is showing signs of ending. Initially trapped in a descending wedge for a month and a half, Bitcoin managed to break out in late May and has since been consolidating. Recent movements indicate a serious comeback, with Bitcoin rising more than 2% in the past 24 hours.
However, Bitcoin faces a key resistance level at $71,515, a high reached on May 20, before being pushed back down to the $66,000 zone. Surpassing this level is essential for Bitcoin to attempt retesting $73,800 and possibly setting a new all-time high this year.
Ethereum’s Stagnation
In contrast to Bitcoin’s resurgence, Ethereum has not mirrored this momentum. Ethereum's market dominance has decreased from 18% last week to around 17.33% currently, allowing Bitcoin's dominance to climb above 53%. Although Ethereum remains above its $3,720 support level, it has not participated in the recent rally. The cryptocurrency is stuck in a consolidation phase above $2,720, needing a bullish push to avoid being left behind.
Floki Inu Eyes New Highs
Floki Inu is on the verge of a new all-time high. After being rejected at the $0.000315 level on May 28 and experiencing a 25% decline, Floki has since rebounded. The cryptocurrency needs to close above $0.000315 with today’s daily candlestick to confirm a bullish breakout and convert this resistance into support. Investors should monitor today’s candlestick to gauge Floki’s future direction.
Uniswap's Strong Performance
Uniswap has shown impressive performance, rebounding strongly above the $9.3 price level. A significant candlestick from yesterday highlights substantial bullish activity. Currently, Uniswap is testing resistance at $11.89, where bears might attempt to halt further price increases. Investors should watch the $11.89 level closely; a break above could signal continued upward movement, while a rejection might lead to a retest of $9.3.
Disclaimer: Voice of Crypto strives to provide accurate and up-to-date information but is not responsible for any inaccuracies. Cryptocurrencies are highly volatile financial assets. Conduct thorough research and make informed financial decisions.

#UniSwap #bitcoin #ETH🔥🔥🔥🔥 #Ethereum✅ #btc70k
$UNI $BTC $ETH

- Despite the prevailing bear market conditions, Jupiter, a decentralized exchange (DEX) built on the Solana blockchain, briefly surpassed Uniswap in terms of daily trading volume.
- The Wen airdrop, coupled with its seamless tradability on Jupiter, sparked significant trading activity, contributing more than $50 million to the exchange's trading volume.
- The upcoming JUP airdrop targeted at Solana users has further intensified interest in the platform.
- Despite the bearish market sentiment, Solana's price has shown relative stability and even hinted at a potential upward trajectory.
- While currently facing downward pressure, Uniswap retains the potential for a bullish reversal provided it maintains support above $5.77.

Uniswap, once the dominant force in decentralized exchanges, has now been dethroned by Jupiter, a decentralized exchange built on the Solana blockchain, marking a significant shift in the landscape.
Over the past 24 hours, Jupiter has surpassed Uniswap in trading volume by a considerable margin, driven by various factors including the frenzy surrounding the $WEN memecoin, an upcoming token launch, and heightened demand for stablecoins.
The surge in trading activity on Jupiter can be largely attributed to the popularity of Wen, a new memecoin distributed to holders of Solana Saga phones through an airdrop. The accessibility of Wen through Jupiter has fueled trading volume, highlighting the platform's convenience and accessibility.
CoinGecko reports that Wen accounted for over 17% of Jupiter's trading volume in the last 24 hours, totaling a staggering $516 million in trades. Despite Uniswap's notable trading volume, it was unable to surpass Jupiter's figures, underscoring the platform's growing prominence.
Furthermore, the anticipation surrounding the launch of JUP, Jupiter's native coin, has further boosted trading activity. Qualified Solana users are set to receive JUP tokens through an airdrop, incentivizing participation in the platform's ecosystem through activities such as staking, governance, and liquidity provision.
While JUP has yet to be officially listed on exchanges, it is already experiencing significant trading activity on Aevo, with tokens trading at approximately $0.61. With a market cap projected to reach $600 million for the JUP airdrop, the cryptocurrency is positioned as a significant player in the market.
In the broader context, the cryptocurrency market is currently experiencing bearish dominance, with contrasting performances observed in Solana and Uniswap. Solana demonstrates resilience with an upward trajectory in price despite short-term fluctuations, while Uniswap grapples with bearish sentiment.
While Solana shows signs of potential consolidation followed by upward movement, Uniswap faces challenges in reclaiming higher price levels amidst bearish pressure. Nevertheless, both platforms remain influential players in the cryptocurrency ecosystem.
Voice of Crypto provides this analysis with the aim of delivering accurate and up-to-date information, but readers are encouraged to conduct their own research and exercise caution due to the volatile nature of cryptocurrencies.
#Jupiter #UniSwap #memecoins #solana #DEX
$UNI $SOL