MEXCHere’s Why Uniswap Token Price Rally 18% & Trading Volume Up 160% Today
Highlights
- Uniswap (UNI) token price skyrocketed today, driven by a 160% increase in trading volume.
- Investor interest peaked after Paul Atkins mentioned an ‘innovation exemption’ for DeFi protocols.
- Experts claim that UNI could target $27 next as it broke the 3-year wedge pattern.
After months-long consolidations, the Uniswap token (UNI) price is soaring today, gaining an 18% surge in the last 24 hours. Additionally, its 24-hour trading volume is up 160%, showcasing extreme investors’ interest, fueled by the SEC crypto meeting and Paul Atkins’ remarks on the DeFi exemption. Let’s discuss.
Paul Atkins Fuels Uniswap Token Price Rally
The fifth and last SEC crypto roundtable, ‘DeFi and the American Spirit,’ had the biggest role in the Uniswap token price pump. In the June 9 crypto meeting, SEC Chair Paul Atkins indicated that the agency is exploring an ‘innovation exemption’ for DeFi projects like Uniswap, boosting its demand in the crypto market.
‘An innovation exemption could help fulfill President Trump’s vision to make America the “crypto capital of the planet” by encouraging developers, entrepreneurs, and other firms willing to comply with certain conditions to innovate with on-chain technologies in the United States.’ said Paul Atkins
With that, the UNI token price surged to a multi-month high of $8.62 before consolidating significantly. At present, it trades at $8.29, with a market capitalization of $5.19B. Additionally, its trading volume is at $1.18B after a 160% surge amid high investor activity.
Technical Breakout & Analysts’ Uniswap Token Price Targets
Along with the SEC roundtable update, the crypto market and macroeconomic updates are also fueling the UNI token price rally. Bitcoin has soared past $109k, the U.S.-China deal fueled market sentiments, and more is affecting this DeFi token price.
Amid this, it has broken out of a 3-year-long wedge pattern per Bitcoinsensus analysis. Their Uniswap token price analysis signals a bullish reversal, predicting a further rally to $11.6 (first major resistance), $15.5 (intermediate resistance), and up to $27 in parabolic breakout.
Another crypto analyst, Ali Martinez, has also presented a similar bullish take, hinting at a rally past the $10 mark. More is anticipated with the Bitcoin price rally to new ATH and favorable macroeconomic events like US CPI and PPI results.
Frequently Asked Questions (FAQs)
1. Why did Uniswap's price surge today?
2. How did the crypto market react to the SEC roundtable held on June 9?
3. What are the technical targets for the Uniswap token?
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