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- In response to the listing on Robinhood announcement, UNI immediately increased by 15%, passing $7.
- Fed Governor Christopher Waller and St. Louis Fed President James Bullard prefer a 75-basis-point increase this month.
- Phishing attack resulted in the theft of approximately $4.7 million from the Uniswap Liquidity Pool.
The crypto market experienced a minor pullback as it increased for a second day due to the significant increase in US tech equities. Furthermore, investors learned more about the bankruptcy of a major digital asset lender, which calms investors and supports the bullish trend in the cryptocurrency market. As a result, the positive trend in the crypto market assists many well-known coins in gaining some traction. However, the bullish trend in the cryptocurrency market was confirmed when Bitcoin began to rise steadily above the $22,000 level. As a result, the value of most well-known coins, including Uniswap (UNI), increased dramatically.
Uniswap (UNI) Price Review
The current price of Uniswap is $7.32, with a 24-hour trading volume of $195,376,858. Uniswap has gained 2.35 percent in the last 24 hours. With a live market value of $5,374,727,887, Uniswap is now ranked #17. There are 1,000,000,000 UNI coins available, with 734,135,451 currently in circulation.
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Robinhood Listing Boosts Uniswap Price
The reason for the Uniswap gains could be linked to a report claiming that the native coin of the Ethereum-based decentralized exchange Uniswap, UNI, was announced for listing by the popular zero-commission app Robinhood on Thursday, July 13. The official announcement was made via Robinhood’s Twitter account.
As a result, the price of UNI immediately increased by 15% in response to the announcement, passing $7. With a 24-hour trading volume of $195,376,858, the current Uniswap price is $7.32, putting Uniswap (UNI) in the company of other well-known cryptocurrencies traded on Robinhood.
Stronger Bitcoin and a Weaker US Dollar in Play
Another critical aspect of maintaining the Uniswap (UNI) price was the recent rise in the world’s largest crypto coin, Bitcoin (BTC). Bitcoin (BTC) prolonged its upward trend and broke through the $22,000 resistance level versus the US dollar. The gains could be extended if it remains over $22,000. After reaching multi-year highs on the USD front, the US dollar fell somewhat.
Last week, the dollar index reached its highest level since September 2002, following the release of consumer price data on Wednesday, which showed inflation increasing at the fastest rate in four decades. However, the advantages were short-lived since they were reversed afterward.
It should be emphasized that the Federal Reserve’s expected considerable tightening at its meeting at the end of July has been reduced. Meanwhile, Fed Governor Christopher Waller and St. Louis Fed President James Bullard prefer a 75-basis-point increase this month. As a result, losses in the US dollar assist cryptocurrencies, such as Uniswap (UNI), which are gaining popularity.
Phishing Scams Cost Uniswap (UNI) $4.7 Million
In contrast, a phishing attack resulted in the theft of approximately $4.7 million from the Uniswap Liquidity Pool. Uniswap was the most recent victim of a phishing scheme. Changpeng Zhao, the CEO of the Binance exchange, was the first to notice the phishing campaign.
Consumers have had at least $4.7 million in ETH stolen from them due to the phishing campaign, which was carried out in the Uniswap V3 liquidity pool. According to estimates, the losses could be significantly higher. This news had only a minor effect on Uniswap prices.
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