Pendle

Satoshi

Moby

Uniswap

DeFi

<p>Altcoin traders are witnessing a resurgence in the cryptocurrency market, particularly with <a href="https://coinmarketcap.com/currencies/uniswap/" target="_blank" rel="noopener noreferrer nofollow">Uniswap’s native token, UNI</a>. According to <a href="https://x.com/mobymedia/status/1794277717074219134?t=0UQS3d8T556zYNiXtco-tQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Moby Media’s tweet</a>, UNI has surged over 43% since May 20th and is now ranked 19th with a market cap of nearly $6.5 billion. This significant price movement has ignited a buying frenzy among investors.</p>
<h2 class="wp-block-heading" id="ethereum-tokens-in-the-spotlight">Ethereum Tokens in the Spotlight</h2>
<p>The surge in UNI’s price can be attributed to the growing attention on Ethereum tokens, especially after the recent approval of the Ethereum spot ETH. Many investors are now seeking out potential massive gainers among lower-capped cryptocurrencies within the Ethereum ecosystem. As <a href="https://x.com/CryptelligenceX/status/1794269045081997511?t=lKVOqLNoe0RUSQRTlXsBYQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">Patrick H. from CryptelligenceX</a> mentioned,<em> “Mid and small cap Altcoins of the Ethereum ecosystem will probably move big next week.”</em></p>
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<p><strong>The Uniswap Effect </strong></p>
<p>Uniswap, being the decentralized exchange of the Ethereum ecosystem, plays a crucial role in facilitating trades for altcoins that are not listed on centralized exchanges. As Patrick H. explained,<em> “If you want to trade altcoins that are not listed on centralized exchanges, you have to use Uniswap (as most of them are only listed on Uniswap).” </em>This dynamic positions Uniswap as a key player in the altcoin trading sphere, further fueling the demand for its native token, UNI.</p>
<p><strong>Breakout and Bullish Targets</strong></p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-1024x576.png" alt="" class="wp-image-496672" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-1024x576.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-300x169.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-767x431.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-1536x864.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-2048x1151.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-267x150.png 267w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-623x350.png 623w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784-788x443.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-784.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>The recent price surge of UNI is also part of a larger breakout from a descending triangle pattern, as highlighted by <a href="https://x.com/cryptojack/status/1793677121140752419?t=1bzOXfXMiWPLJ-ZybqdaoQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">CryptoJack</a>. The analyst has entered a long position on UNI, setting a target of $15, indicating potential for further upside from its current price of around $10.</p>
<h2 class="wp-block-heading" id="pendle-finance-rising-star-in-defi">Pendle Finance: Rising Star in DeFi</h2>
<p>Alongside Uniswap’s impressive performance,<a href="https://coinmarketcap.com/currencies/pendle/" target="_blank" rel="noopener noreferrer nofollow"> Pendle Finance (PENDLE)</a> has been making waves in the DeFi space. <a href="https://x.com/decilizer/status/1793111912265498944?t=UawNJK6jCD4T_77nttnVVg&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">According to Decilizer</a>, PENDLE has been “unstoppable after taking a breakout from $4,” with the analyst predicting a potential target of $6.95. <a href="https://x.com/JaneBennet8474/status/1793921852223451274" target="_blank" rel="noopener noreferrer nofollow">Jane Bennet</a> also chimed in, noting PENDLE’s impressive 540% gains in the past and its current breakout from $6, aiming for $8.47.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="528" src="https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-1024x528.png" alt="" class="wp-image-496664" srcset="https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-1024x528.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-300x155.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-766x395.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-1536x792.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-2048x1056.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-291x150.png 291w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-100x52.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-679x350.png 679w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783-788x406.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/05/image-783.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><strong><em>Read Also: <a href="https://captainaltcoin.com/kaspa-kas-token-price-predicted-to-reach-7-in-this-bull-cycle-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Kaspa (KAS) Token Price Predicted to Reach $7 in This Bull Cycle: Here’s Why</a></em></strong></p>
<p><strong>Underlying Factors </strong></p>
<p>The heavy buying and price surges of these cryptocurrencies can be attributed to several underlying factors. Pendle, a protocol that enables the tokenization and trading of future yield, has garnered significant attention due to its novel Automated Market Maker (AMM) that supports assets with time decay. This innovative approach provides users with more control over future yield, offering optionality and opportunities for its utilization.</p>
<p>Moreover, according to <a href="https://x.com/CryptoKoryo/status/1793689412846706825" target="_blank" rel="noopener noreferrer nofollow">Crypto Koryo</a>, Pendle, with over $6B in Total Value Locked (TVL), has surpassed Uniswap to become the 6th biggest DeFi protocol by TVL. The restaking narrative combined with points+ yt/pt trading has positioned Pendle as a leader in the DeFi space.</p>
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<p>The post <a href="https://captainaltcoin.com/uniswap-uni-and-pendle-crypto-prices-surging-heres-why/" rel="noopener noreferrer nofollow">Uniswap (UNI) and Pendle Crypto Prices Surging; Here’s Why</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Uniswap (UNI) and Pendle Crypto Prices Surging; Here’s Why

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