Amidst a volatile crypto market, Uniswap stands out with positive momentum despite major cryptocurrencies' decline.
Current Market Movements
Uniswap (UNI) shows a 5.47% growth while Bitcoin falls to $88.5K and Ethereum slides to $2.4K. The cryptocurrency surpassed key resistance levels of $8.30 and $8.48, reaching a daily high of $8.53 after starting the day at $7.62. At present, Uniswap trades at $8.19 with a market capitalization of $4.91 billion.
Trading Volume and Liquidations
Uniswap's trading volume jumped 21%, reaching $365 million. The market witnessed $640.61K worth of liquidations during this period.
Impact of SEC and Uniswap's Prospects
The SEC is poised to close its prolonged investigation into Uniswap Labs on suspicions of regulatory breaches. With this backdrop, UNI might be preparing for a new growth stage or decline, with the current price potentially testing near-term support at $8.09.
Despite the broader market’s bearish inclination, Uniswap showcases positive trading dynamics. The SEC investigation closure might bolster future growth for the cryptocurrency.
