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Wednesday, June 5, 2024
HomeCryptoUNI skyrocketed nearly 23% after a mysterious social media post

UNI skyrocketed nearly 23% after a mysterious social media post

Uniswap (UNI) price skyrocketed on Tuesday after a mysterious social media post increased the optimism of many investors. This growth follows an earlier decline due to the postponement of UNI’s fee mechanism vote.

UNI recovered 23%

UNI jumped nearly 23% after a post mystery on X hinted at an important announcement, encouraging community members to “prepare for something special.”

UNI/USDT 4-hour chart | Source: TradingView

Previously, UNI dropped more than 9% after postponing the vote on the fee mechanism, which was scheduled to take place on May 31. Many community members who had accumulated UNI in preparation for the event felt disappointed. hope after voting was postponed.

This may have caused selling pressure, especially from short-term investors who were aiming to speculate on UNI’s price rise after the vote.

Proposed fee mechanism to distribute a portion of Uniswap’s revenue to UNI token holders who stake and delegate them for governance. Uniswap hopes that this proposal will encourage participation in governance and key decisions of the protocol.

Many users expected the announcement to be a date for a vote on the fee mechanism or possibly the launch of Uniswap v4.

However, a user on X has speculate that the announcement could be a collaboration launching an NFT box between Uniswap and fashion NFT character KidSuper.

If the announcement is not as positive as expected, UNI will likely see a correction in the coming hours, as exchanges have seen net inflows of over 430.9K UNI in the past 24 hours.

You can see UNI prices here.

Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.

SN_Nour

According to Fxstreet

Mark Tyson
Mark Tyson
Freelance News Writer. Always interested in the way in which technology can change people's lives, and that is why I also advise individuals and companies when it comes to adopting all the advances in Apple devices and services.
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