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UNI token surges 20% post burn proposal while broader altcoin market shows mixed trends
UNI token rose 20 % on token-burn approval as altcoins traded mixed and market cap stayed above $3.
Uniswap’s UNI token rallied 20 % after the platform approved a governance proposal introducing a token-burn mechanism to reduce circulating supply. The price briefly touched $8.60 before trimming gains as traders booked profits. Meanwhile, major altcoins showed varied performance with Ethereum (+2.4 %), Cardano (-1.1 %), and BNB (+1.5 %), amid dollar strength and shifting liquidity flows.
Market analysts cited the proposal as a deflationary trigger for long-term holders, though short-term volatility persisted across DeFi tokens. Crypto market capitalization remained above $3.5 trillion, indicating resilience despite profit-taking.