Uniswap’s UNI Surges Over 15% as Whale Withdraws $1.96M from Binance

By Coinseek | Cryptonewsss | 25 May 2024

In a week marked by consolidation across the cryptocurrency market, Uniswap’s native token, 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).

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.

A fresh wallet withdrew 213,166 UNI ($1.96M) from Binance just recently. 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

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Ethereum (ETH) Uniswap Uniswap (UNI)

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