Uniswap Extends Seven-Day Rally as Bitcoin Slips Before Fed Decision
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Uniswap's UNI surged about 20% in 24 hours to trade near $2.75, extending a seven-day rally — its longest winning run since August 2023 — after Standard Chartered initiated coverage with a $6.50 year-end target. Broader crypto softened as Bitcoin briefly slipped below $65,000 from near $67,000 ahead of the Federal Reserve's June meeting where markets expect interest rates to remain unchanged, highlighting macro risk to DeFi and DEX token momentum.
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- UNI climbed about 20% over 24 hours and extended its advance to seven sessions.
- Bitcoin briefly fell below $65,000 ahead of the Federal Reserve’s decision.
- Markets expect interest rates to remain unchanged at the June meeting as Standard Chartered initiated UNI coverage with a $6.50 year-end target.
Uniswap’s UNI token broke away from a cautious cryptocurrency market on Wednesday, climbing about 20% while Bitcoin and most major altcoins moved lower ahead of the Federal Reserve’s interest-rate decision.
UNI traded near $2.75 and extended its advance to a seventh consecutive session. That marks its longest winning run since August 2023, when the token gained for eight straight days.
Meanwhile, Bitcoin slipped below $65,000 after trading near $67,000 one day earlier. The wider crypto market also softened as traders waited for Kevin Warsh’s first policy deci…
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