UNI’s Standard Chartered-driven rally past $3.70 has cooled fast, with the token down almost 14% in 24 hours to trade near $3.13 on CoinMarketCap data.
Uniswap’s UNI token is giving back gains after a Standard Chartered call sparked the year’s sharpest rally. The bank’s initiation of coverage on Uniswap, published June 15, projected a 40x climb to $100 by 2030 as tokenized assets flow into DeFi. The note sent UNI to $3.70, a one-month high.
That momentum has since unwound. UNI traded near $3.13 on June 18, down 13.63% over the past 24 hours, per CoinMarketCap data, a pullback from its post-report peak. Traders are now watching $3.20 to $3.24 as the next support zone.
Read more: Uniswap Price Prediction
Standard Chartered’s case rests on Uniswap’s position as the largest decentralized exchange by volume, plus a fee-burn mechanism called UNIfication that’s trimmed UNI’s total supply from 1 billion to roughly 895 million since December. Whether the rally holds now hinges on broader risk appetite across crypto markets.
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