In a week marked by consolidation across the cryptocurrency market, the native token of Uniswap, UNI, has defied the trend, surging over 15%, and surpassing the $10 mark. This bullish run comes amid positive developments within the Ethereum ecosystem and Uniswap’s ongoing legal battle with the US Securities and Exchange Commission (SEC). Related Reading: Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House Riding The Ethereum Wave Beyond the legal battle, the current momentum within the Ethereum ecosystem is also propelling UNI’s price upwards. On-chain data reveals significant whale withdrawals from crypto exchanges following news of a potential spot Ethereum ETF. Another fresh wallet withdrew 213,166 UNI($1.96M) from #Binance just now.https://t.co/u15CE864hm pic.twitter.com/kyOBv0TB5G — Lookonchain (@lookonchain) May 24, 2024 This flight to safety, coupled with the overall bullish sentiment surrounding Ethereum, is creating a ripple effect that benefits UNI, a key player within the Ethereum DeFi landscape. From a technical standpoint, UNI’s breakout from a monthly consolidation phase paints a promising picture. Both technical indicato ..
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