{"id":314265,"date":"2024-05-31T20:45:32","date_gmt":"2024-05-31T15:15:32","guid":{"rendered":"https:\/\/dripp.zone\/news\/uniswap-leads-crypto-weekly-gains-in-users-await-fee-sharing-vote-crypto-news\/"},"modified":"2024-05-31T20:48:36","modified_gmt":"2024-05-31T15:18:36","slug":"uniswap-leads-crypto-weekly-gains-in-users-await-fee-sharing-vote-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/uniswap-leads-crypto-weekly-gains-in-users-await-fee-sharing-vote-crypto-news\/","title":{"rendered":"Uniswap Leads Crypto Weekly Gains In Users Await Fee-Sharing Vote – Crypto News"},"content":{"rendered":"

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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.<\/span>\u00a0<\/span><\/p>\n

Uniswap price saw growth taking the baton from <\/span>Ethereum<\/span><\/a> (ETH) which saw the highest gains last week above 22% after anticipation of spot ETF approvals. <\/span>UNI<\/span><\/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.<\/span>\u00a0<\/span><\/p>\n

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Uniswap\u2019s 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).<\/span><\/p>\n

Revenue Sharing Spurs Uniswap<\/strong><\/h2>\n

Uniswap will vote on the \u201cfee switch\u201d 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.<\/span>\u00a0<\/span><\/p>\n

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\u201c<\/span>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\u2026\u201d<\/span><\/i>\u00a0<\/span><\/i><\/p>\n

However, while this is laudable, some Uniswap\u2019s users fear it might attract the Securities and Exchange Commission\u2019s (SEC) tough regulations.<\/span><\/p>\n

Wider Market Recovers<\/strong><\/h2>\n

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The cryptocurrency market has shown a slight recovery following bearish fears leading to outflows. Today, a turnaround sees <\/span>Bitcoin<\/span><\/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.<\/span>\u00a0<\/span><\/p>\n

Also Read: <\/b>Biggest Crypto Airdrops To Checkout In June 2024<\/span><\/a><\/p>\n

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David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding. <\/p>\n<\/p><\/div>\n

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