Friday, June 21, 2024

As China’s new crypto crackdown promotes DEX tokens, Uniswap (UNI) has gained over 50% in only 24 hours.

In the recent atmosphere of increasing inflow and outflow, Uniswap’s rebound from the past week’s slump is a very optimistic development for the crypto market. The major reason behind Uniswap plummeting is China’s strong comments and actions against all crypto-related enterprises. On Monday, Uniswap saw a 14.90 percent increase and reached an intraday peak of $26.26. This peak comes after a period of falling prices and low inflow. Just a day ago, it touched $17.63 – the lowest in the month. Mainly for the dip buyers, Uniswap generated over 48% profit in less than 24 hours.

DEX is Uniswap’s decentralized exchange. UNI acts as a governance token within this ecosystem. This structure allows for holders to vote on business matters relating to Uniswap and the DEX platform. On top of that, holders of UNI have the prospect of getting a revenue share some time in the future. One of the most important features of Uniswap is the ‘fee-switch’. Once this feature is activated, holders will get a share of the protocol fee. Even currently, many UNI holders get revenue through contributions in Uniswap’s assets pool. As of now, they earn approximately 0.05%-1% of each trade’s value.

As a result of China’s stringent crackdown, token economics is gaining traction. The growth of DEX has all the possibilities of a better adoption curve for Uniswap. With the clever adoption of smart contracts and multi-signature technology, Uniswap has managed to be out of the government’s prying eyes. If they continue at this pace, it’ll soon be a leading force in the crypto market.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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