These 2 Altcoins Made Important Announcements: Prices Jumped!

Mina (MINA) and UniSwap (UNI) went up after these news. We review the latest news from the altcoin market.

Huobi listed this altcoin project, after which the price rose 20%

In a Tweet, Huobi Global announced that it has listed the MINA token for trading on its platform. However, MINA deposits were opened at 17:30 on 23 June. It also announced that it will list Lido Stake ETH (stETH) on its exchange.

The exchange added that spot trading for the MINA/USDT pair will begin once the deposit volume meets market demand.

MINA’s 24-hour trading volume increased by 120% after the announcement

MINA price gains 20% in a short time after the announcement. The recent surge helped in gaining significant trading volume. Currently, it is trading at $0.694. However, it is still 92.81% away from ATH. Meanwhile, 24-hour trading volume increased 120% to $53 million.

MINAUSDT 2022 06 25 19 12 40

Uniswap surpasses the leading altcoin project

Uniswap (UNI) posted big gains this week. It has reached $5.46, up 34% since last week. According to data from CryptoFees.info, on the largest DeFi exchange by daily volumes, fees paid to the exchange by investors increased nearly 25% during the week, reaching $5 million a day. The figure briefly exceeded the daily fees paid in Ethereum, which ranged from $4 million to $6 million.

UNIUSDT 2022 06 25 19 17 30

Is Uniswap demand signaling the recovery of the DeFi market?

Rising gas fees on the largest DeFi exchange suggest that the DeFi space has seen some recovery after the first six months of this year. Total value locked to DeFi (TVL) has dropped over 66% this year, according to DeFi Llama data. But Uniswap has lost less than 50% of its TVL this year. The stock market has also seen some inflows this week, with TVL rising 11% to $5.1 billion.

The growing interest in the exchange is due to the increased interaction with Ethereum Layer 2s. It is already supported by big players like Uniswap, Polygon. It also provides a large user pool by integrating into several Ethereum-based applications. The trend also reflects increased user frustration with high gas fees on Ethereum, especially during high volume events like the popular NFT mint.

Ethereum gas volumes down

Uniswap’s increase in fees corresponded to a sharp decrease in Ethereum fees. The data shows that ETH’s daily fees are at their lowest level since the end of 2020. Uniswap, on the other hand, reached a one-month high in June.

AmkNews.com As we covered in our analysis, Ethereum has struggled with problems in recent months. Possible delays in the merger, coupled with exposure to massive liquidations that crashed ETH prices, led users to other alternatives.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.