Ethereum

Uniswap

Gains

Decentralized crypto exchange Uniswap (UNI) surging in price following a new revenue-sharing vote with its community. This comes as the digital asset market records weekly gains and picks up in daily numbers. The total market capitalization today stands at $2.56 trillion, soaring 0.5% as bulls seek to accumulate after mid-week lows.&nbsp;
Uniswap price saw growth taking the baton from <a href="https://coingape.com/bitcoin-news-maxi-deems-ethereum-etf-incredibly-bullish-for-btc-heres-why/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) which saw the highest gains last week above 22% after anticipation of spot ETF approvals. <a rel="noopener noreferrer nofollow" href="https://coinmarketcap.com/currencies/uniswap/" target="_blank">UNI</a> exchanges hands at $10.86 marking a 20% weekly jump above other crypto assets in the top 20 by market capitalization. This sharp rise has extended the monthly figure above 53% although daily projections have moved sideways.&nbsp;
Uniswap’s trading volumes saw grew 19% alongside more on-chain growth following new developments. Last week, Uniswap processed $20 billion worth of trades as decentralized finance (DeFi) protocols see increased Assets Under Management (AUM).
<h2 id="strong-revenue-sharing-spurs-uniswap-strong">Revenue Sharing Spurs Uniswap</h2>
Uniswap will vote on the “fee switch” today which will allow token holders to share in revenues. The also disclosed its financials ahead of the vote in a bid to distribute free autonomously.&nbsp;
“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…”&nbsp;
However, while this is laudable, some Uniswap’s users fear it might attract the Securities and Exchange Commission’s (SEC) tough regulations.
<h2 id="strong-wider-market-recovers-strong">Wider Market Recovers</h2>
The cryptocurrency market has shown a slight recovery following bearish fears leading to outflows. Today, a turnaround sees <a href="https://coingape.com/price/bitcoin/#:~:text=Bitcoin%20(BTC)%20Price%20is%20Up,trading%20between%20$68694.1210936%20and%20$68123.9176102." target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) and Ethereum with gains of 0.75% and 1.24% respectively. Bitcoin trades at $68,643 while Ethereum is at $3,816. Other assets like BNB, and Solana (SOL) also saw slight inflows. Meme coins rallied on the back of new sentiment in the market.&nbsp;
Also Read: <a href="https://coingape.com/trending/biggest-crypto-airdrops-to-checkout-in-june-2024/" target="_blank" rel="noopener noreferrer nofollow">Biggest Crypto Airdrops To Checkout In June 2024</a>
The post <a href="https://coingape.com/trending/uniswap-leads-crypto-weekly-gains-in-users-await-fee-sharing-vote/" rel="noopener noreferrer nofollow">Uniswap Leads Crypto Weekly Gains In Users Await Fee-Sharing Vote</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

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

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