Uniswap (UNI) price faces bearish headwinds as SEC lawsuit FUD surrounding Binance and Coinbase wanes and South Korean centralized exchanges emerge. The on-chain analysis examines how Uniswap price could react after a cohort of strategic whales were spotted buying the dip.

The SEC’s lawsuit against Binance and Coinbase in June 2023 triggered a ripple effect across the crypto markets. As one of the most prominent DEXs, Uniswap (UNI) quickly climbed the top gainers’ charts after its daily transaction volumes skyrocketed above $800 million. 

Incidentally, a month later, SEC’s lost its long-running case against Ripple (XRP) in mid-July. While an appeal still looms, Investors are confident that Ripple’s victory could provide a foundation for Binance and Coinbase to build a strong defense case. 

In effect, on-chain data shows how Uniswap has been losing traction since U.S. District Judge Analisa Torres delivered the verdict on July 13. How will the UNI price react in the coming weeks?

Uniswap Faces Traction Hurdles as CEXs’ Regain Foothold

While Binance and Coinbase have regained traction recently, Korean exchanges like UpBit have also grabbed media headlines. This has caused crypto investors to switch attention from DEXs, including Uniswap. 

According to on-chain data compiled by Santiment, Uniswap’s user-acquisition rate has recently declined to a two-month low. As

Go to Source to See Full Article
Author: Ibrahim Ajibade

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details