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Uniswap (UNI), the decentralized crypto trading platform, is attracting attention with outstanding performance, recording its best week in over two years.
Currently, the value of UNI has increased by 67%, reaching a peak of $12.79. Let’s see all the details below.
Summary
Crypto news for Uniswap: Proposal for a revenue sharing mechanism
As anticipated, recently the crypto Uniswap (UNI) is capturing attention with its exceptional performance, recording its best week in the last two years.
Currently, the value of UNI has increased by over 67%. This growth highlights one of the most remarkable trading weeks since January 2022.
The price surge follows Uniswap’s proposal for a revenue sharing mechanism aimed at UNI holders.
The proposal, set for an instant vote on March 1st, followed by an on-chain vote on March 8th, has generated significant interest among investors, contributing to the current price momentum of UNI.
Before the increase, reports emerged indicating that a UNI liquidity provider removed 1.2 million UNI tokens, equivalent to 8.7 million dollars, from the liquidity pools.
Furthermore, he also deposited 1 million UNI tokens, equivalent to 7.25 million dollars, on Binance.
Trading strategies and increasing profits
Shortly after the price of UNI increased by over 60%, three wallets, presumably belonging to a single individual, deposited a total of 220,574 UNI tokens, worth 2.69 million dollars, on Binance.
It is remarkable to observe that these wallets have shown a withdrawal behavior of UNI from Binance during downturns and deposit behavior on centralized exchanges during upswings.
Factors that led them to achieve an estimated profit of 1.49 million dollars, indicating a significant increase of 91%.
Despite recent fluctuations, Uniswap maintains its position as the largest decentralized exchange, generating substantial fees.
In the last 30 days, Uniswap has accumulated fees totaling 71.6 million dollars, ranking second only behind Lido Finance.
While UNI’s proposal for a revenue sharing mechanism continues its path, investors eagerly await the outcome of the upcoming votes, ready to seize the potential opportunities offered by the evolution of the Uniswap ecosystem.
Analysis of Uniswap price: recovery, governance and future prospects
An analysis of the daily chart reveals that the price of Uniswap has remained in a sideways range between 12.5 and 3.3 dollars for about two years.
However, at the end of October 2023, it started a new recovery, recording a 210% increase in the following 4 months and reaching the current value of 11.9 dollars.
As already anticipated, the recent acceleration, with a 60% increase in the last 48 hours, seems to have been triggered by the proposal for the renewal of governance presented by UF Governance Lead @eek637.
This initiative aims to incentivize the involvement of UNI token holders, thus improving community participation and governance effectiveness in the Uniswap ecosystem.
The move not only strengthens Uniswap’s governance model, but also consolidates its position as a prominent decentralized exchange in the DeFi sector.
According to the weekly time chart, instead, a rounded bottom pattern emerges, indicating a potential recovery trend of the asset.
While coin buyers challenge the resistance of the $12.5 neckline model, a breakthrough of this barrier could intensify the recovery, setting a potential target of $21.
However, it is advisable to consider the possibility of a slight decrease in the price of UNI after the current aggressive surge.