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Is Uniswap Going to Zero? UNI Price Drops 20% After SEC Scrutiny as This Other Coin Prepares for Exchange Launch

The value of UNI, the native token of DeFi exchange Uniswap, has dropped by 15% compared to last week, prompted by news of a potential enforcement action by the US SEC for alleged securities law violations. Currently priced at $9.08, UNI has experienced a 2.1% loss in the last 24 hours. Although these losses signal a significant downturn, they fall short of a crash. Notably, UNI’s overnight depreciation is the most substantial among the top 20 cryptocurrencies by market cap, trailing only Toncoin (TON).

TON, Telegram’s cryptocurrency spin-off, saw a 3.6% decline overnight and is now trading at $7.13. While this decline contrasts sharply with the performance of other leading cryptocurrencies today, TON remains 37.5% higher than its value last week, thanks to recent notable rallies.

UNI’s chart reveals significant growth spurts for token holders, notably on Friday, February 23, and Wednesday, March 6, coinciding with a sustained rally across the market throughout the turn of the month. The peak for UNI occurred when the token reached $16, followed by a steady decline, with the most significant losses observed in the last 48 hours.

Based on Relative Strength Index (RSI) readings, a sell-off began gaining momentum on the eighth, reaching its peak yesterday when the RSI hit approximately 20. With a reading below 30 considered “oversold,” this sell-off appears substantial. However, in the past 24 hours, the RSI has rebounded to around 41, indicating an uptick in buying momentum.

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Uniswap stands as DeFi’s premier decentralized exchange (DEX), offering users the ability to trade a diverse range of cryptocurrencies akin to centralized exchanges such as Binance or Coinbase. However, unlike centralized counterparts, users must manage their crypto assets themselves, a concept known as self-custody.

For some, this requirement represents a hurdle. While starting to trade cryptocurrencies on DEXs isn’t overly complicated—selecting a wallet and initiating trades—it lacks the streamlined experience of using a MasterCard for payment and relying on the exchange for custodial services.

The loss of faith in exchange custody became evident during the 2021/2022 recession, as crypto companies facing liquidity issues frequently suspended withdrawals to prevent potential bank runs. This trend culminated in the collapse of FTX, an exchange that had been funneling billions of customer funds to its sister company, Alameda Research.

Following these revelations, there has been a growing interest in DeFi and self-custodying crypto through decentralized wallets, such as Uniswap’s, which grant users control over their private keys.

The events of 2021 served as a stark reminder to the industry about the importance of public education. Among the key takeaways from the FTX incident was the paramount significance of decentralization—the foundational principle of crypto.

However, for newcomers to the crypto space, figuring out where to begin their education can be daunting. Fortunately, there is a new crypto presale for an established crypto education project aiming to revolutionize learning with its innovative learn-to-earn model.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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