Uniswap Leads Crypto Weekly Gains In Users Await Fee-Sharing Vote

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As a crypto investor with some experience under my belt, I’m thrilled to see Uniswap (UNI) surging in price following the new revenue-sharing vote with its community. The decentralized exchange has always been a favorite among DeFi enthusiasts, and this latest development is a game-changer for UNI holders.

Uniswap (UNI), a decentralized cryptocurrency exchange, is experiencing a price increase due to a recent revenue-sharing proposal approved by the community. This uptick occurs amidst a flourishing digital asset market, which has registered weekly growth and rising daily figures. The current total market capitalization amounts to $2.56 trillion, marking a 0.5% climb as investors eagerly buy during the mid-week price dips.

The price of Uniswap (UNI) surpassed Ethereum (ETH), which experienced significant growth of over 22% last week due to ETF approval expectations, with UNI trading at $10.86 – representing a 20% increase in value compared to other cryptocurrencies in the top 20 by market capitalization. This sudden surge has raised the monthly price increase above 53%, although daily price predictions have remained relatively stable.

last week, the trading volumes at Uniswap expanded by 19% and hit a record high of $20 billion, fueled by greater on-chain activity. This growth comes as decentralized finance (DeFi) protocols witness an uptick in Assets Under Management (AUM).

Revenue Sharing Spurs Uniswap

Today, Uniswap members will cast their votes on the “fee shift” proposal. If approved, this change will enable token owners to receive a portion of the platform’s earnings as revenues are redistributed automatically. In preparation for the vote, Uniswap has made its financial reports publicly available.

“Next Friday, May 31, the UF will initiate the on-chain vote to upgrade the Protocol so that its fee mechanism can reward UNI token holders that have staked and delegated their tokens. If you are a UNI holder who wants to vote on this proposal, you **must** have your UNI delegated…” 

Although commendable, some users of Uniswap express concern that these actions could draw the scrutiny of the Securities and Exchange Commission (SEC), potentially leading to stringent regulations.

Wider Market Recovers

The cryptocurrency market has experienced a modest bounce-back after bearish anxieties caused significant outflows. Currently, Bitcoin (BTC) and Ethereum (ETH) are up by 0.75% and 1.24% respectively, with BTC priced at $68,643 and ETH at $3,816. Additionally, other assets such as Binance Coin (BNB) and Solana (SOL) have also seen minor inflows. The market shift has brought renewed energy to meme coins, causing a rally.

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2024-05-31 18:06