{"id":470824,"date":"2021-09-03T18:00:22","date_gmt":"2021-09-03T18:00:22","guid":{"rendered":"https:\/\/wncen.com\/?p=470824"},"modified":"2021-09-03T16:54:51","modified_gmt":"2021-09-03T16:54:51","slug":"uni-slides-due-to-sec-investigation","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/uniswap\/uni-slides-due-to-sec-investigation\/","title":{"rendered":"UNI Price Slides Due To SEC Investigation, In Risk Of Deep Plunge?"},"content":{"rendered":"

The decentralized nature of Uniswap (UNI) will be put to the test. Earlier, it was revealed that the Securities and Exchange Commission (SEC) opened<\/a> an investigation on Uniswap Labs, the company behind the protocol.<\/p>\n

Immediately after the news broke out, the price of UNI, Uniswap\u2019s governance token, took a hit and dropped as much as 4%. Meanwhile, the main cryptocurrencies in the top 10 showed strong gains.<\/p>\n

Bitcoin managed to climb above the $50,000 mark with a 2.7% profit in the daily chart, and Ethereum went north of $4,000 for the first time since May\u2019s crash. ETH trades at $3,986, at the time of writing, with a 6.1% profit.<\/p>\n

\"Uniswap
ETH is on a strong bullish trend in the daily chart. Source: ETHUSD Tradingview<\/figcaption><\/figure>\n

UNI\u2019s price stands at $29,09, and it\u2019s the worst-performing asset in the crypto top 10 by market cap with a 2.1% loss in the daily chart.<\/p>\n

\"Uniswap
UNI with minor losses in the daily chart. Source: UNIUSDT Tradingview<\/a><\/figcaption><\/figure>\n

In the crypto community, many remember XRP\u2019s price reaction to the SEC action filed against Ripple Labs, and two of its executives. At that moment, XRP was the third cryptocurrency by market cap and was following the bullish sentiment in the market.<\/p>\n

As 2020 was coming to an end, so it did XRP\u2019s upside momentum. The SEC killed the push and XRP plunged, presenting heavy losses for a couple of months.<\/p>\n

It\u2019s unclear if UNI will follow, up until now the token showed conviction to break above major resistance at $30. The governance token was trading in the $25 – $30 range. Thus, experts claimed that this was the last obstacle before it can drive a fresh rally.<\/p>\n

\"Uniswap
Source: Skanks Futures (@skanksfutures) via Twitter<\/figcaption><\/figure>\n

UNI\u2019s indicators point to further appreciation but could flip negative\/neutral in the coming days. The Relative Strength Index (RSI), an indicator to measure momentum, for the governance token stands at 56.7 or neutral, at the time of writing.<\/p>\n

In the short term, it seems critical that UNI breaks the $30 resistance. If the rest of the market makes a strong push to previous highs, UNI\u2019s price could benefit. In that sense, Bitcoin and Ethereum performance are critical.<\/p>\n

Uniswap (UNI) A Battle For The Whole Crypto Industry?<\/h2>\n

The rumors about a possible SEC investigation on Uniswap Labs have been circulating for some time. As NewsBTC reported<\/a>, the software development studio limited access to certain tokens via the app.uniswap.org domain.<\/p>\n

Some speculated that this decision was made due to pressures from the Commission. In addition, SEC Chair Gary Gensler seems determined to \u201cput DeFi under a microscope\u201d. Compounds Labs General Counselor Jake Chervinsky comment the following on recent events:<\/p>\n

(\u2026) it shouldn’t surprise anyone who’s seen Chairman Gensler’s recent comments on DeFi. It also shouldn’t worry anyone too much (yet). An investigation is *not* an allegation of wrongdoing, it’s just how SEC gathers information.<\/p><\/blockquote>\n

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course<\/a><\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The decentralized nature of Uniswap (UNI) will be put to the test. Earlier, it was revealed that the Securities and Exchange Commission (SEC) opened an investigation on Uniswap Labs, the company behind the protocol. Immediately after the news broke out, the price of UNI, Uniswap\u2019s governance token, took a hit and dropped as much as 4%. Meanwhile, the main cryptocurrencies in the top 10 showed strong gains. Bitcoin managed to climb above the $50,000 mark with a 2.7% profit in the daily chart, and Ethereum went north of $4,000 for the first time since May\u2019s crash. ETH trades at $3,986, at the time of writing, with a 6.1% profit. UNI\u2019s price stands at $29,09, and it\u2019s the worst-performing asset in the crypto top 10 by market cap with a 2.1% loss in the daily chart. In the crypto community, many remember XRP\u2019s price reaction to the SEC action filed against Ripple Labs, and two of its executives. At that moment, XRP was the third cryptocurrency by market cap and was following the bullish sentiment in the market. As 2020 was coming to an end, so it did XRP\u2019s upside momentum. The SEC killed the push and XRP plunged, presenting heavy losses for a couple of months. It\u2019s unclear if UNI will follow, up until now the token showed conviction to break above major resistance at $30. The governance token was trading in the $25 – $30 range. Thus, experts claimed that this was the last obstacle before it can drive a fresh rally. UNI\u2019s indicators point to further appreciation but could flip negative\/neutral in the coming days. The Relative Strength Index (RSI), an indicator to measure momentum, for the governance token stands at 56.7 or neutral, at the time of writing. In the short term, it seems critical that UNI breaks the $30 resistance. If the rest of the market makes a strong push to previous highs, UNI\u2019s price could benefit. In that sense, Bitcoin and Ethereum performance are critical. Uniswap (UNI) A Battle For The Whole Crypto Industry? The rumors about a possible SEC investigation on Uniswap Labs have been circulating for some time. As NewsBTC reported, the software development studio limited access to certain tokens via the app.uniswap.org domain. Some speculated that this decision was made due to pressures from the Commission. In addition, SEC Chair Gary Gensler seems determined to \u201cput DeFi under a microscope\u201d. Compounds Labs General Counselor Jake Chervinsky comment the following on recent events: (\u2026) it shouldn’t surprise anyone who’s seen Chairman Gensler’s recent comments on DeFi. It also shouldn’t worry anyone too much (yet). An investigation is *not* an allegation of wrongdoing, it’s just how SEC gathers information. Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course<\/p>\n","protected":false},"author":535,"featured_media":446163,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83446],"tags":[82849,80532,82852],"class_list":["post-470824","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uniswap","tag-uni","tag-uniswap","tag-uniusdt"],"acf":[],"yoast_head":"\nUNI Price Slides Due To SEC Investigation, In Risk Of Deep Plunge?<\/title>\n<meta name=\"description\" content=\"The decentralized nature of Uniswap (UNI) will be put to the test. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"UNI Price Slides Due To SEC Investigation, In Risk Of Deep Plunge?","url":"http:\/\/wncen.com\/news\/uniswap\/uni-slides-due-to-sec-investigation\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/uniswap\/uni-slides-due-to-sec-investigation\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Depositphotos_414964050_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Depositphotos_414964050_s-2019.jpg?fit=1000%2C563"},"articleSection":"Uniswap","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["uni","uniswap","uniusdt"],"dateCreated":"2021-09-03T18:00:22Z","datePublished":"2021-09-03T18:00:22Z","dateModified":"2021-09-03T18:00:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"UNI Price Slides Due To SEC Investigation, In Risk Of Deep Plunge?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/uniswap\\\/uni-slides-due-to-sec-investigation\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/uniswap\\\/uni-slides-due-to-sec-investigation\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Depositphotos_414964050_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/10\\\/Depositphotos_414964050_s-2019.jpg?fit=1000%2C563\"},\"articleSection\":\"Uniswap\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"uni\",\"uniswap\",\"uniusdt\"],\"dateCreated\":\"2021-09-03T18:00:22Z\",\"datePublished\":\"2021-09-03T18:00:22Z\",\"dateModified\":\"2021-09-03T18:00:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/10\/Depositphotos_414964050_s-2019.jpg?fit=1000%2C563","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470824","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=470824"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/470824\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/446163"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=470824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=470824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=470824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}