full image - Repost: Uniswap Surges 17% as Bitcoin Breaks $100K and Unichain Grows (from Reddit.com, Uniswap Surges 17% as Bitcoin Breaks $100K and Unichain Grows)
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TL;DR: UNI token jumped 17% to a two-week high above $5.50 with 70% increase in trading volume ($214M in 24 hours). Growth drivers include Bitcoin reclaiming $100K, Ethereum's Pectra upgrade, and Unichain's rising prominence with $354M daily volume.Uniswap's native token (UNI) rallied sharply on May 8, surging 17% to break above $5.50 and reach its highest price in two weeks amid broader cryptocurrency market strength.The token saw explosive growth in trading activity with over $214 million traded in 24 hours - a 70% increase in volume as Bitcoin reclaimed the psychologically important $100,000 level.While UNI's gains align with the overall market uptrend, several specific factors are providing additional momentum:Ethereum's Pectra Upgrade: The first major Ethereum update since Dencun in March 2024 introduced 11 improvement proposals enhancing user experience, staking mechanics, and L2 integration.Unichain's Growth: Uniswap announced on May 7 that following Pectra's activation, all 7,702 smart wallets on the network are now fully supported on the Uniswap web app.DEX Volume Leadership: Unichain recorded $1.99 billion in weekly volume (+14% week-over-week), outpacing growth on Ethereum, Solana, and Base. In the past 24 hours alone, Unichain processed over $354 million in transactions, representing the majority of Uniswap V4's daily volume.Market intelligence platform Santiment cautioned that Bitcoin's milestone could be a "double-edged sword," potentially bringing retail FOMO while also signaling a potential slowdown when social media becomes saturated with bullish predictions.
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