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The Fed paused rate hikes in June’s meeting but signaled two more rate hikes to come this year. Jerome Powell also called rate cuts “a couple of years out.” Following the Fed decision, the broader cryptocurrency fell. The top mover for today is UNI, which rebounded more than 3% in the past 24 hours after unveiling the Uniswap v4 plan.
Uniswap, the largest decentralized exchange by trading volume, has teased the release of Uniswap v4. Despite several months ahead of its official release, the Uniswap team is inviting community feedback on its upcoming new version. UNI, the native token, surged in the wake of the announcement.
Bybit believes the market may have underestimated the impact of Uniswap v4, and UNI’s token price may have recently been undervalued. Looking back, the release of Uniswap v3 was groundbreaking in the sense that it introduced a few great features, such as centralized liquidity, which improved trading efficiency and was widely adopted by its competitors later on. The Uniswap v4 is said to feature decentralization, where more customization on pool size, fees, and positions will be available.
Interestingly, UNI’s performance whipsawed of late in line with other top tokens. Nonetheless, UNI should have benefited from the SEC’s hunting of centralized exchanges as more users would shift part of their trading volume to decentralized counterparts.
Check Out the Latest Prices, Charts, and Data of UNI/USDT Here!
Snoop Dogg’s NFT Tour Pass lets fans “travel the world” with him virtually. The crypto KOL launched Snoop Dogg Passport, an NFT pass that offers exclusive content on his upcoming concert tour to holders. The NFT collection will be minted on Arbitrum with a price tag of 0.025 ETH. Interestingly, it is not a limited edition, with each user purchasing up to 100 passes at a time. Furthermore, It is expected that the NFT will also unlock access to merchandise, ticket sales, and music playlists.