Uniswap Price: Top Analyst Bullish On UNI Rally To $10 Despite Legal Woes

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Crypto expert Ali Martinez has sparked enthusiasm among cryptocurrency enthusiasts with his optimistic outlook for Uniswap (UNI), even as the platform faces ongoing legal disputes with the U.S. Securities and Exchange Commission (SEC. Martinez remains confident in the token’s price increase to $10, disregarding the regulatory challenges.

UNI Gears Up For Rally To $10

Recently on X’s blog, Martinez pointed out that the TD Sequential buy signal had appeared on Uniswap’s daily chart. He explained that this was a possible sign of an upcoming rally, which could potentially drive UNI‘s price up to $10 within the next one to four days.

If there’s a significant increase in demand for Uniswap, its price is expected to jump by more than 32% from its current level. Furthermore, Uniswap may avoid the downturn experienced by XRP when Ripple Labs faced legal action from the SEC. However, even if Uniswap’s price reaches $10, it would still fall short of its all-time high of $44.97 by approximately 78%.

In an interview with Bankless, Uniswap CEO Hayden Adams expressed optimism about resolving regulatory challenges from the SEC. Regarding the SEC’s objections, Adams identified three main points of contention. Initially, the SEC ponders whether Uniswap’s interfaces should be classified as brokerages.

Adams also highlighted the similarity between Uniswap’s interface design and Coinbase’s, which was recently upheld in a court decision. Furthermore, he pointed out that there is ongoing debate over whether UNI tokens meet the criteria for being classified as securities by the SEC. Adams stressed Uniswap’s transparency and the lack of a formal contract between Uniswap Labs and token holders to argue against this classification.

To clarify, the SEC is examining if Uniswap functions as an unregistered securities exchange. In response, Adams stressed the independence and decentralized operation of the protocol on the blockchain, contradicting allegations that Uniswap Labs holds power over the exchange.

Uniswap Price Today

Adams ended the interview with unwavering determination, assuring Uniswap’s supporters that they would vigorously challenge the SEC’s claims. “We believe we’re acting lawfully,” he stated, adding to the optimism among Uniswap’s followers.

On Friday, April 19, 2024, Uniswap’s price jumped 4.21% to reach $7.54 during the press time. This rise was triggered by a general market upturn and heightened investor faith. The UNI cryptocurrency boasted a market value of an impressive $4.52 billion at the same moment. Additionally, there was a significant increase in trading volume over the previous 24 hours, with a total of $179.87 million exchanged.

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2024-04-19 17:37