Altcoin
“Something beautiful!” This Altcoin sent a cryptic message: token blown!
Recently, the Uniswap The Foundation has postponed the vote for token staking and proxy rewards. After this development, the price of the altcoin saw a decline. In an interesting development, Uniswap has created an encrypted post. The price of the token increased after this post.
Uniswap sent the encrypted message, the price of the altcoin increased!
As you follow Cryptokoin.com, the market is trying to gain new momentum. Bitcoin, the leading cryptocurrency, sent bullish signals by surpassing $70,000. In this positive market climate, Uniswap attacked with an encrypted message. The team tried to mobilize users with the message “Get ready for something super”. This encrypted message had a positive impact on the price of the altcoin.
After the announcement, the price of the altcoin recorded a vertical increase. UNI it jumped to $10.23 in a short period of time from its intraday level of $9.49. At the time of writing, the token was trading at $10.22, up 5.82% on a daily basis.
UNI daily price chart. Source: CoinMarketCap
Uniswap postpones critical vote
THE Uniswap Foundation, which oversees the decentralized exchange Uniswap, postponed the UNI staking and proxy rewards vote scheduled for last Friday. The postponement is due to the fact that a “stakeholder” discussed with the Foundation the concerns that attracted greater attention. The price of the altcoin dropped following the announcement. The Foundation released the following statement on social media platform X:
Last week we announced the first enabling proposal Uniswap Protocol governance would be implemented on-chain today. Over the last week, a stakeholder has raised a new issue regarding this work that requires further diligence on our part to fully investigate. Due to the immutable nature and sensitivity of our proposed update, we have made the difficult decision to delay the release of this ballot. This was unexpected and we apologize for the delay. We will keep the community informed of any significant changes and will update you all when we are more confident about future times.
Following this development, Uniswap’s UNI token fell from $11.40 to $9.4 on May 31. The February offering aims to compensate Uniswap’s dedicated stakers and delegates for high-quality participation. According to a statement from the Uniswap Foundation a week ago, to prepare for the vote originally scheduled for May 31, UNI holders had to delegate their tokens on the platform before voting began.
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