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The UNI token hits an all-time high level while the rest of the market stagnates and DOGE tries to steal the show. Most of the market is not doing so well but a few coins managed to get their hands on the bull train and reach new highs, just as UNI did so let’s read more in our latest altcoin news.
The UNI token hits a new all-time high today of $20 in the early hours of the morning while XRP still being under attack from the US SEC, which increased by 50% and continued its 75% increase over the week, fighting on the allegations in the courtroom. In the meantime, aside from the 17% drop in Doge that happened in a crash earlier this week, the top 20 cryptocurrencies suffered no major losses in value today.
When the US Secretary and Commission filed the lawsuit against Ripple, the company that created XRP, the entire market collapsed. However, XRP bounced back this week. The recovery comes after Ripple’s legal rebuttal that was filed on Friday which laid into the SEC arguments. However, Larry Cermak commented on the actions of a pump and dump Telegram group but no matter the reason, the coin surged in price. The main talk of the show was Uniswap’s governance token UNI which passed $20 as of late and set a new record in a bullish-looking sentiment that commenced on 27 January and took UNI’s market cap to second place among the DeFi tokens. The price dropped to $19.
Uniswap’s governance token powers the decentralized exchange and according to Uniswap’s protocol analytics, less than $800 million worth of crypto was traded on the exchange in the past day. This marks a daily increase of ten percent and kept Uniswap right on the top of the DEX tables. Uniswap’s UNI token soared 280% in one month. BTC is more than 10% down per week as the asset started slowly decreasing in value. The developments led to a recent drop below $29,000 which was the lowest price since early January. The asset initially recovered quickly and jumped to $35,000 turning out to be a false breakout while the bears gained control.
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