Uniswap Soars 70% as 100M Token Burn Proposal Sparks Whale Frenzy
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- UNI is up 70% weekly after a proposal to burn 100M tokens
- Daily whale transactions hit a 4-year high
- UNI broke out of a long-term descending channel
Uniswap (UNI) has surged by more than 70% in the past week following a major governance proposal to burn 100 million UNI tokens as part of a new fee structure designed to redirect protocol revenues toward token burns and liquidity provider rewards.
Notably, CryptoQuant CEO Ki Young Ju stated in a recent post on X (formerly Twitter) that the “UNIfication” proposal could turn Uniswap “parabolic,” indicating that the burning of tokens could significantly boost UNI’s value and demand. He added that “a supply shock seems inevitable.”
Related: Uniswap Crosses $1T Annual Volume as UNI Drops 26% Despite Bullish Pattern
Historical Milestones
According to on-chain analytics platform Santiment, Uniswap also…
Read The Full Article Uniswap Soars 70% as 100M Token Burn Proposal Sparks Whale Frenzy On Coin Edition.
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