Uniswap and Bitcoin in the Crypto Market

Uniswap has been making waves in the crypto market, with its native cryptocurrency surging by 80% after a proposal for a major upgrade. On the other hand, Bitcoin’s price has remained stagnant around $51,000 as bulls and bears battle for control.

Bitcoin Price at $51K

Bitcoin has struggled to break above $51,000 in the last 24 hours. Despite efforts from bears to push the price below $51K, it has managed to hold steady. At one point, the price dipped to $50,600 before buyers stepped in and pushed it back up to $51,000.

Bitcoin’s dominance has dropped to 48.6% in the past day, indicating that the altcoin market is performing better than BTC. The fear and greed index remains in “Greed” territory, currently at 72.

Uniswap (UNI) Leads the Altcoin Market

While most altcoins have seen minor gains or losses, Uniswap’s UNI token stands out with an 80% surge. This increase comes after a proposal to change an essential part of the protocol, where UNI holders may receive a percentage of DEX-generated fees.

This move transforms UNI from a governance token to a yield-generating asset. The rise in UNI price has also lifted other DEX-related tokens like dYdX and Quickswap.

The crypto market has been eventful in the past 24 hours, and it will be intriguing to see how it develops next.

SPECIAL OFFER (Sponsored)

Disclaimer: The information provided by CryptoPotato writers does not necessarily reflect the views of CryptoPotato regarding investment decisions. It is advised to conduct your research before making any investment decisions.

Check out cryptocurrency charts on TradingView

Source link

#Uniswap #Skyrockets #Bitcoin #Stalls #51K #Market #Watch