Uniswap (UNI) surges 20% as DeFi market revives, whales buy aggressively

Uniswap (UNI), a prominent decentralized finance (DeFi) token, has seen a remarkable surge today, with its price jumping over 20% within a 24-hour period. The token's value rose from approximately $7.65 to nearly $11 before stabilizing at $10.78. This significant increase is accompanied by a surge in trading volume, exceeding $1.5 billion, making UNI one of the top-performing cryptocurrencies of the week.

The primary driver behind UNI’s rally is the resurgence of the DeFi market. After a period of low activity, funds are returning to trusted DeFi platforms, and Uniswap, being one of the largest decentralized exchanges, is reaping the benefits. This renewed interest in DeFi has led to a substantial increase in the total value locked (TVL) in Uniswap, which has risen above $5.71 billion.

Another key factor contributing to UNI’s surge is the aggressive buying by large investors, known as whales. Data indicates that whale holdings in UNI have increased by nearly 68% in the past month, demonstrating strong confidence from institutional players. Additionally, retail traders are also showing interest, with open interest in Uniswap’s futures market climbing by 26.5%, indicating rising demand and positive sentiment.

Market experts remain optimistic about UNI’s future prospects. Yi Lihua, founder of LD Capital, recently noted that UNI could have “more than 3x the upside potential compared to its previous all-time high.” He added that if Ethereum’s bullish trend continues, Uniswap could become one of the most attractive leveraged bets in the crypto market.

UNI recently broke past key resistance levels, sparking a wave of new buying activity. After such a sharp jump, some analysts expect short pullbacks or sideways moves as the market stabilizes. Looking ahead, bullish targets remain high. Experts believe UNI could reach $14.45 and possibly climb toward $20 if the broader DeFi market continues to rally. The next big challenge for UNI is breaking above the psychological $11 mark and holding momentum toward $12.

Summary: The Uniswap (UNI) token has surged by over 20% today, driven by the revival of the DeFi market and aggressive buying by whales. The total value locked in Uniswap has risen above $5.71 billion, and market experts remain bullish on UNI’s potential, with some predicting a 3x gain ahead. The token’s recent break past key resistance levels and positive market sentiment suggest that UNI has the potential to continue its upward trajectory in the near future.