Crypto Surge Alert: ICP, UNI Rally Amid Key Developments in Last 6 Hours
Internet Computer (ICP) +15.37%
Internet Computer (ICP) has experienced a modest price increase of around 2.09% in the last 24 hours, despite ongoing downward trends over the past week and month. The token currently ranks #46 on CoinMarketCap with a market cap nearing $1.6 billion.
#ICP is a blockchain project aiming to extend the functionality of the public internet by enabling decentralized applications to run at web speed and scale. However, recent activity shows 2 million new ICP tokens were minted within hours, indicating significant inflationary pressure that could dilute value. Price struggles persist as ICP hovers near $2.90-$3.00 amid heavy selling pressure and failed recovery attempts.
Given the continuous minting of new tokens and persistent selling pressure, ICP’s short-term price outlook appears bearish. Unless inflation slows or demand surges, ICP may continue to face downward momentum below current levels.
Uniswap (UNI) +9.17%
Uniswap’s UNI token surged nearly 20% following the opening of an on-chain governance vote on a proposal to activate protocol fees and burn UNI tokens. This marks a significant shift in how the protocol’s governance and tokenomics operate.
#UNI is the governance token of Uniswap, one of the largest decentralized exchanges by volume. The “Unification” proposal aims to tie UNI’s value more closely to Uniswap’s multibillion-dollar trading engine by enabling fee generation and executing an immediate burn of 100 million UNI tokens. This move is widely seen as a positive step toward reducing circulating supply and increasing token scarcity.
The strong price reaction suggests bullish sentiment as investors anticipate enhanced token utility and value capture mechanisms. If the proposal passes, UNI could sustain upward momentum; however, failure or delays might temper gains.
