Latest news with #Uniswap
Yahoo
2 days ago
- Business
- Yahoo
Uniswap's UNI Slides 8% Despite Upgrade Optimism
In the past 24 hours, Uniswap's native token UNI experienced a marked decline due to volatile market conditions. The price movement from $7.119 to $6.532 indicates substantial downward pressure, amplified by macroeconomic factors like overall market bearish trends and investor sentiment. At the same time, microeconomic elements, including Uniswap's latest protocol advancements and strategic interest from crypto whales, provide counterbalancing support points, potentially staving off further price declines. Despite the dip, long-term confidence might build as Uniswap gains traction with its latest innovations, suggesting strategic investor consideration. Technical Analysis Highlights UNI price plummeted from $7.119 to $6.532 in 24 hours. Intermediate support was found at $6.40, buoyed by significant trading volumes, according to CoinDesk Research's technical analysis data model. The price attempted recovery reaching a high of $6.595 but stabilized at $6.522 by 08:00. Consistent lower highs noted throughout the session, suggesting continued bearish sentiment. External References "UNI eyes $10 as UniswapX launch triggers inverse H&S breakout", published May 29, 2025. "Uniswap Price Prediction: Is UNI Set for a Bullish Breakout?", CoinPedia, published May 29, 2025. "UNI Price Prediction for May 30: Momentum Slows Near $7.25 After Major Breakout", Coin Edition, published May 29, 2025. "What's Next for This Popular DeFi Token? Will Uniswap (UNI) March Above $10 in the Coming Month?", CoinPedia, published May 29, 2025.
Mint
3 days ago
- Business
- Mint
Bitcoin price today: Token slips below $105k before slight recovery, experts say bulls passive amid wider uncertainty
Bitcoin price today: The world's largest cryptocurrency, Bitcoin's price, slipped below the psychological $1,05,000 level today on May 30, before recovering slightly, data on CoinMarketCap showed. At time of writing, the token was at $105,795.12, down 1.90 per cent compared to the previous day, and below the recent all-time highs of $1,10,000 seen last week. Further, market capitalisation of Bitcoin is also down 1.92 per cent to $2.1 trillion, while trade volume have increased 16.28 per cent in sell-off to $58.84 billion worth, according to data on CoinMarketCap. At $2,621.35, down 3.94 per cent from the previous day, Ethereum shed 3.90 per cent market cap to $316.46 billion. It has however remained above the $2,600 psychological level. CoinDCX Reserach noted that the top gainers include DeXe with over a 14 per cent rise, followed by SPX6900 with over a 3 per cent increase. And top losers are Uniswap, which plunged 14 per cent; Optimism, by 13.33 per cent; Arbitrum & Pudgy Penguins, by 13 per cent each; and Pepe & Pyth Network, by over 11 per cent each. According to the CoinDCX research team, crypto markets continue to plunge as bulls remain passive. The crypto market drag has also negatively impacted other tokens such as XRP, Solana, Cardano, and Shiba Inu, etc. 'With the latest price plunge, more than $345 million has been liquidated from the markets in the past few hours,' it observed. Further, Riya Sehgal, Research Analyst at Delta Exchange noted, 'the crypto market is experiencing increased volatility, with a 2.43 per cent drop in market cap to $3.35 trillion and a rise in 24-hour volume to $184.7 billion amid $725 million in liquidations.' 'Macroeconomic uncertainty persists, driven by stalled US-China trade talks and a US court blocking tariffs. Bitcoin recently hit a 9-day low near $104,725, trading below its 50 and 200 SMAs, signaling short-term bearish pressure unless it breaks above key resistance levels. Ethereum and altcoins like Cardano and Dogecoin also saw declines,' she added. Edul Patel, co-founder and CEO of Mudrex feels that Bitcoin 'is consolidating amid geopolitical uncertainty, as stalled US–China trade talks bring back trade war concerns'. '… macroeconomic pressures such as higher-than-expected US jobless claims and a 0.2 percent GDP contraction in Q1 2025 have added to short-term market caution,' he added. Sehgal however noted that strong institutional demand persists, highlighted by a record $6.22 billion inflow into the iShares Bitcoin Trust ETF in May. And Patel concurred, 'Institutional confidence remains strong, with $432 million flowing into spot Bitcoin ETFs, helping in price recovery. Currently, BTC need to reclaim the $108,000 levels for sustained momentum. On the flipside, if we do not get follow-through buying, Bitcoin could test the $103,700 levels.' Key Takeaways Bitcoin's recent dip highlights the ongoing volatility in the cryptocurrency market. Institutional investments are continuing to flow into Bitcoin, indicating underlying confidence despite short-term price declines. Macroeconomic factors are significantly impacting crypto prices, with geopolitical tensions and economic indicators contributing to market uncertainty.
Yahoo
3 days ago
- Business
- Yahoo
UNI Surges 10% This Week as Bitcoin Consolidates
Uniswap's native UNI token has risen by 10% this week amid a wider altcoin market rally. The move comes as bitcoin BTC consolidates around $108,000 after setting a record high of $111,970 last week. UNI is currently trading at $7.04 after rising to as high as $7.63 at 03:35 UTC. It is currently testing the $7.00 level as support, which had been a point of resistance over the past week. If UNI holds above $7.00, it could establish a firm level of support before springing toward $10, which spurred a rejection in February. CoinMarketCap's Altcoin Season Index is currently at 25, the top-end of a bitcoin-centric market but rising significantly since last month, when it was at 12. The index signals an altcoin market when it passes through 75.
Yahoo
6 days ago
- Business
- Yahoo
Asia Morning Briefing: Thai Banks May Soon Hold Crypto, SCB10X CEO Signals Sandbox Push
Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. Uniswap's UNI token surged from $6.00 to $6.65 over the past 24 hours, pushing the token up 5%, while the broader market gauge CoinDesk20 Index fell 1.8% in the last 24 hours. This momentum coincides with Uniswap recording its highest monthly transaction volume since February, processing over $73 billion in trades and generating more than $380 million in revenue this year, as institutional interest grows and a notable whale re-entered the market by acquiring nearly $4 million worth of UNI. Kaweewut Temphuwapat, the new CEO of SCB10X, the venture arm of Thailand's SCB bank, sees significant opportunities emerging at the intersection of AI, crypto, and Web3. "We definitely [are] going more on AI and also crypto and AI plus crypto," Temphuwapat told CoinDesk, highlighting these hybrid investments as firmly "under our radar." He predicts clearer crypto regulation in the U.S. will fuel increased deal flow into resilient Asian markets, noting SCB10X's early success investing in Ripple: "We are an early investor in Ripple of 10 years ago… we've used that technology for the last five to six years in our SCB App." Temphuwapat praised Thailand's proactive and innovative regulators, highlighting the country's robust payments infrastructure. He expects Thai banks, including SCB, could soon directly hold crypto tokens on their balance sheets, initially through regulatory sandboxes: "The intention is there... they allow us to do [it] in a small scale." Pseudonymous trader "James Wynn," known for high-stakes crypto bets on decentralized platform Hyperliquid, has shifted focus from billion-dollar bitcoin positions to memecoins, recently placing a leveraged $1 million bet on Pepe (PEPE), CoinDesk reported earlier. Previously, Wynn closed a massive $1.2 billion bitcoin long position at a $17.5 million loss, before pivoting to a $1 billion short position at 40x leverage, effectively wagering their entire $50 million wallet balance on bitcoin's downside. That short briefly netted Wynn about $3 million in profit before closing, marking one of the largest trades ever executed fully on-chain. Wynn announced stepping back from perpetual trading after securing a cumulative profit of $25 million, earned from an initial investment of just over $3 million. The trader's latest high-leverage PEPE position has already gained $500,000 amid a nearly 6% rise in the memecoin's value. Strategy (MSTR), the largest corporate holder of bitcoin, purchased an additional 4,020 BTC between May 19 and May 25 for roughly $427 million, bringing its total holdings to 580,250 BTC, CoinDesk previously reported. The acquisition was funded through three separate at-the-market equity programs, including sales of common and preferred stock totaling approximately $427 million. These latest bitcoin purchases were executed at an average price of $106,237 per coin, pushing Strategy's total investment in bitcoin to over $40.6 billion, at an average cost basis of $69,979 per coin. The acquisitions reflect the company's ongoing commitment to expanding its sizable bitcoin holdings through regular capital raises and share issuances. BTC: Bitcoin holds steady near record levels around $109,000, consolidating gains despite tariff-induced volatility, as long-term investors continue accumulating amid macroeconomic uncertainty. ETH: Ethereum maintains resilience above $2,500 amid volatility and cautious whale behavior, supported by continued institutional inflows into spot ETH ETFs. Gold: Gold dips slightly on tariff delay but stays above $3,310 as deficit concerns fuel bullish outlook. Hang Seng: Hong Kong's Hang Seng opened lower, trading above 23,304, led by tech losses, including Meituan's 4.9% decline. Nikkei: Japan's Nikkei 225 dipped 0.13% Tuesday morning as markets assessed Trump's tariff delay. S&P 500: Closed for Memorial Day. What It Was Like Inside the Trump Crypto Dinner (Decrypt) Solana eyes Alpenglow for next-gen consensus layer (Blockworks) Trump media group plans to raise $3bn to spend on cryptocurrencies (Financial Times) Pakistan Taps Surplus Power Capacity to Fuel Bitcoin Mining, AI Data Centers (CoinDesk) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Coin Geek
7 days ago
- Business
- Coin Geek
Uniswap sued by patent holders over DeFi technology
Getting your Trinity Audio player ready... The developer behind decentralized exchange Bancor has claimed IP rights over the core technology underpinning the entire DeFi industry in a new suit aimed at fellow decentralized Uniswap. The lawsuit, filed in New York by the entities that own Bancor, claims to own two patents that the plaintiffs say were the first smart contract designs which could 'allow any buyer or seller to transact in a liquid and reliable manner' in a decentralized environment. As a result, the lawsuit alleges that Uniswap—the second-largest decentralized exchange and seventh-largest exchange overall by volume—is infringing their intellectual property rights on a massive scale. 'The invention replaced the order books and market makers of centralized exchanges with a novel system of smart contracts that acts as an 'automatic market maker' for decentralized platforms. 'The solution – one of the most important innovations in crypto – is now widely used, including most prominently at the core of the Uniswap Protocol.' The patents are U.S. patent numbers 11107049 and 11574291, both titled 'Methods for exchanging and evaluating virtual currency.' According to Bancor, the patents describe a solution to the challenges of creating a decentralized exchange, particularly about their ability to determine the value of assets without a middleman. As the lawsuit describes: ''Traditionally, value of a currency is determined by the price of a transaction between willing parties,' but 'employing this method on an unlimited variety of token types is not viable… In addition, many freshly issued Token types have only a limited trading volume or none at all,' which 'will increase the difficulties entailed in evaluating an unlimited variety of Token types via a FOREX method.'' 'The asserted patents then introduce the implementation of a CPAMM [constant product automatic market maker] using smart contracts and explain that 'the inventive method allows determining a Token's value without reliance on a transaction between two willing parties' as conventionally performed by centralized exchanges.' The patents are dated to 2021, but the plaintiffs say the invention was made in 2016. Provisional patents were filed in 2017 while the solution was presented to the public at the Community Ethereum Development Conference in February 2017. The suit also says that Ethereum Founder Vitalik Buterin—who is not listed as a defendant in the suit—communicated and supported Uniswap's adoption of the invention, with Bancor claiming that the idea was pitched to (and rejected by) Buterin in 2017. Not wanting to move his ecosystem's focus away from ETH, Buterin instead began working with Hayden Adams, founder of Uniswap, to make a competing decentralized exchange using the same invention. Thus, Uniswap was born. Bancor is seeking injunctions against Uniswap and treble damages on the basis that Uniswap's conduct was 'willful' and 'egregious.' 'Since developing this technology, Bancor's mission has always been the same: to bring innovative inventions to DeFi that push the boundaries of what's possible,' Bancor said in a statement. 'However, when an organization continuously uses our invention without our authorization and does so as a means of competing with us, we must take action. For the last eight years, Uniswap has been using our patented technology in its projects without our permission. As a result, we have taken legal action to defend our technology for the good of the entire DeFi community.' On X, Adams called the suit 'possibly the dumbest thing' he's ever seen. Watch: Bringing the Metanet to life with Teranode title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen>
