BTC holdings have increased significantly, please note that a big fluctuation is imminent. BTC is flat along the 5-day line, and the hourly line peak is lower. The upper $51,695 is the box resistance formed on February 25. Only by breaking through $51,695 with large volume can it rise quickly and enter a short squeeze. With the weakening of long volume, BTC needs to test support. Next, BTC will bottom out and test $51,302.
Resistance: 51695, 52078, 52426
Support levels: 51302, 51023, 49656
Market experts generally predict that 2024 will be a critical moment for the cryptocurrency market to usher in a new round of bull market. Researchers see the next Bitcoin (BTC) halving and the possibility of a spot BTC ETF (Exchange Traded Fund) in 2024 as potential factors driving the next bull market. The possible outbreak of this bull market is expected to attract a large number of new investors to the cryptocurrency field.
On the evening of February 23, Erin Koen, Uniswap developer and head of foundation governance, tweeted
A tweet was posted on Uniswap, "The most important week in Uniswap protocol governance ever?", with a proposal to upgrade the Uniswap protocol governance system. Less than 4 hours after it was sent, this tweet received over 100,000 reads. Subsequently, the Uniswap Foundation also issued a statement that the Snapshot vote for the "Activate Uniswap Protocol Governance" proposal will be released on March 1, 2024, and the on-chain vote will be released on March 8, 2024. In the hour that followed, UNI quickly rose by more than 65% from around $7 to over $12. "UNI is finally empowered" also became the focus of community discussion for a while. The entire DEFI market was detonated. In half an hour, the market exploded by 65%. What is Uniswap?
Uniswap is a decentralized exchange deployed on the Ethereum blockchain.
It allows permissionless creation of liquidity pools for any ERC20 token and lets users earn fees by providing liquidity.
As of now, Uniswap has undergone multiple version iterations and has developed from the initial V1 to the current V4.
Uniswap was created by Siemens engineer Hayden Adams in November 2018 and has grown into the world's largest cryptocurrency decentralized exchange in just 18 months. He was inspired by a concept proposed in a paper by Ethereum co-founder Vitalik Buterin. Adams implemented Buterin's idea to create Uniswap, a major innovation in the decentralized finance (DeFi) ecosystem running on the Ethereum blockchain.
Since Uniswap is a smart contract deployed on the Ethereum blockchain, it is also called the Uniswap protocol.
According to the technical characteristics of blockchain smart contracts, the immutability and transparency of transaction operations on the chain are ensured.
Analyzed
The reason why people think UNI has value is essentially because of Uniswap's leading position in the DEX field. Although UNI is the governance token of the protocol, it has potential future possibilities. The team and investors have high selling pressure, AMM market making has the risk of uncompensated losses, and contract loopholes.
