This week, the cryptocurrency market witnessed widespread price drops across various assets, with the exception of UNI and ETH. UNI’s price surge can be attributed to several factors, including anticipation and positive response to Uniswap’s new governance proposal, which aims to enhance tokenomics and streamline governance processes. Additionally, Uniswap’s disclosure of significant fiat holdings provided reassurance to investors, contributing to positive sentiment surrounding UNI. As for ETH, its price rise can be attributed to factors such as the approval of spot Ethereum exchange-traded funds (ETFs), bullish technical indicators, and growing market sentiment fueled by traders and analysts.
