Uniswap (UNI) Surges Over 20% in a Day… Spotlighted Amid Policy Expectations and ETH Strength
Summary
- The native token UNI of the decentralized exchange Uniswap surged more than 20% in just one day.
- Analysts noted that the strength of Ethereum (ETH) and the passage of the 'GENIUS Act' by the U.S. House of Representatives could create a favorable environment for altcoins overall.
- The founder of LD Capital stated that UNI has more than triple the upside potential compared to its previous all-time high and is also expected to benefit from structural upgrades in its tokenomics.
The native token UNI of the decentralized exchange (DEX) Uniswap has surged over 20% in a single day, attracting significant market attention.
As of 16:13 on the 18th, according to CoinMarketCap, UNI is trading at $10.73, up 20.29% from the previous day. Analysts say that expectations are increasing for a simultaneous rise alongside the strong performance of Ethereum (ETH).
The market has also noted that on this day, the U.S. House of Representatives passed the 'GENIUS Act,' a stablecoin regulatory bill. There is growing optimism in the industry that this bill could create a favorable environment for altcoins overall.
On the same day, Yi Lihua, founder of LD Capital, remarked, "UNI still has more than three times the upside potential compared to its previous all-time high," adding, "Once Ethereum establishes its uptrend, UNI will become one of the most compelling leveraged assets."
He further noted, "From the perspective of tokenomics, including proposals for platform fee sharing, structural upgrades are also anticipated." LD Capital currently holds UNI as its third-largest investment position.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.!["Will AI take our jobs?" Fear spreads…market rattled by a plunge in shares [New York Market Briefing]](https://media.bloomingbit.io/PROD/news/874408f1-9479-48bb-a255-59db87b321bd.webp?w=250)
