Uniswap Surges Over 18%, Eyeing the $10 Mark Next

TradingKey
11 Jun

TradingKey – Uniswap continues its rally, gaining over 18% this morning. Could UNI have even more upside potential?

On Wednesday, June 11, the price of Uniswap (UNI), the leading decentralized exchange (DEX) token, soared more than 18%, hitting a high of $8.67, its highest level since March.

UNI Price Chart – Source: TradingView.

On Monday, June 9, the U.S. SEC announced during the "DeFi and the American Spirit" roundtable that it is developing an exemption framework for DeFi innovation. This news reignited the entire DeFi sector, sending UNI and other decentralized exchange tokens surging.

This morning, Uniswap engineer Tarik revealed that the Uniswap Smart Wallet is set to launch soon, featuring support for large transactions, gas abstraction, and future expansion capabilities. This development further fueled UNI’s price increase, bringing its three-day cumulative gain to 38%. With DeFi enthusiasm on the rise, analysts predict UNI may climb another 15% to reach $10.

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