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Uniswap (UNI) on a Bullish Run after Robinhood Lists the Token

Uniswap
Uniswap
  • Uniswap rocketed by 12.43% to trade at $6.95 during the European session.
  • The UNI coin users lost up to $8 million on Monday due to a phishing scam promising a fake airdrop. 
  • The cryptocurrency trading platform Robinhood Markets (HOOD) has added the Uniswap token. 

On Friday, the price of Uniswap rocketed by 12.43% to trade at $6.95 during the European session. Since last month, the Uniswap (UNI) market price has more than doubled to $6.99. Moreover, with a $6.5 resistance breakout, the altcoin has lately provoked an upsidedown head and shoulder pattern. As a result, the anticipated retest of the breached resistance level should provide an entry opportunity for intrigued traders.

Uniswap (UNI) Price Review 

With a 24-hour trading volume of $388,456,292, the current live Uniswap price is $6.94. In the last 24 hours, Uniswap has increased by 12 percent. The market is currently ranked 17th, with a live market cap of USD 5,105,656,426. There are 1,000,000,000 UNI coins in total supply, with 734,135,451 UNI coins in circulation.

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Robinhood Markets (HOOD) Lists Uniswap (UNI) Token

The cause of the network surge could be linked to recent reports claiming that the cryptocurrency trading platform of Robinhood Markets (HOOD) has added the Uniswap token. 

This immediately increased the token’s value, and Uniswap’s UNI gained roughly 20% in the last 24 hours. The decentralized exchange’s ERC-20 token has a market cap of approximately $4.7 billion and a trading volume of $394 million. 

Robinhood, on the other hand, confirmed the news on Twitter yesterday. The Robinhood platform currently provides consumers with access to 13 crypto assets.

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US Inflation Figures in Play

The better-than-expected US Inflation figure continues to be in highlights. As a result of the highest CPI reading in more than 40 years, Uniswap and many other altcoins experienced significant price increases. 

The Consumer Price Index (CPI) had shown a June print of 9.1 percent, its highest level since 1981, considered among the most important factors in instilling trust in cryptocurrency investors. 

Hackers Stole $8 Million through a Uniswap Phishing Attack

Uniswap, on the other hand, had a rough start to the week following a negative report that hackers had stolen $8 million in Ethereum through a Uniswap phishing attack. Uniswap users lost up to $8 million on Monday due to a phishing scam promising a fake airdrop. 

The phishing scheme advertised a free airdrop of 400 UNI tokens (approximately $2,200 in value). Users had to sign the transaction and connect their cryptocurrency wallets to claim the malicious airdrop. Then, the unidentified hacker immediately took control of user funds using a rogue smart contract.

At least $4.7 million in ether was stolen due to a clever phishing campaign targeting liquidity providers (LPs) of the Uniswap v3 protocol (ETH). Although Uniswap’s losses were brief, the company recovered. The Uniswap network, on the other hand, experienced gains after broker Robinhood Markets (HOOD) added the token to its cryptocurrency trading platform.

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