The price of DeFi exchange Uniswap’s native token UNI has seen a 15% decrease compared to the previous week following news of a potential enforcement action by the US SEC for alleged securities law violations. UNI is currently trading at $9.08, experiencing a 2.1% loss in the last 24 hours, making it one of the biggest depreciations among the top 20 cryptocurrencies by market cap. Telegram’s cryptocurrency spin-off TON also saw a 3.6% drop, trading at $7.13, but is still 37.5% higher than the previous week due to recent rallies. UNI holders experienced significant growth spurts on specific dates in February and March, with the token hitting $16 before steadily declining and experiencing its steepest losses in the last 48 hours.
The Relative Strength Index (RSI) readings indicate a sell-off that peaked recently, hitting a bottom of about 20, considered “oversold.” However, in the last 24 hours, the reading has increased to around 41, suggesting that buying momentum is gaining strength. Uniswap is the largest decentralized exchange (DEX) in the DeFi ecosystem, allowing users to trade a wide variety of cryptocurrencies without a centralized custodian. The self-custody aspect of DEXs like Uniswap has both benefits and challenges, as users have direct control over their assets but also need to manage their own security measures.
The crypto market faced challenges during the 2021/2022 recession, leading to a loss of faith in centralized exchanges that custody users’ funds. Events like the collapse of FTX and other liquidity issues highlighted the importance of decentralization and self-custodying crypto assets through decentralized wallets like Uniswap. The industry has been focused on educating the public about the risks and benefits of using decentralized platforms and the importance of maintaining control over private keys. A new crypto education project, 99Bitcoins, is offering a learn-to-earn model where users can earn crypto by learning about cryptocurrencies through gamification and a leaderboard reward system.
99Bitcoins, an established platform with a large community of subscribers and users, aims to revolutionize crypto education by making learning interactive and rewarding. The platform’s approach allows users to feel that their learning efforts have tangible benefits in the form of earning crypto rewards. With a focus on education and empowerment, 99Bitcoins aims to help crypto novices navigate the complexities of the industry and make informed decisions. The presale for 99Bitcoins is now open, offering an opportunity for individuals to participate in the learn-to-earn model and enhance their understanding of the crypto space. As with any investment in crypto assets, there are risks involved, and individuals should conduct thorough research and seek advice before making any decisions.
