The price of the UNI token, the governance token of Uniswapone of the most popular decentralized cryptocurrency trading platforms, has experienced a 6.8% drop (at the time of writing this note) in its value according to data provided by CoinMarketCap, after an intensified debate within its decentralized governance.
The uncertainty generated by this discussion has negatively affected the value of the platform. The influence of the governance debate on the Uniswap price shows the importance of having a strong and fair decision-making system in decentralized trading platforms. As the industry continues to evolve, it is crucial that these issues are effectively addressed to ensure a stable future for all participants.
UNI price represented in 7-day candles – Source: www.coinmarketcap.com
There has been speculation about centralization within decentralization, but in cases like Uniswap, owning the token allows you to have “the power” of decision, and this is so because the decentralized autonomous organizations have established these parameters at the time of their conception.
Now, the price of UNI has been fluctuating with the market, for more than a year the price was located at a little more than twelve dollarsbut like the rest of the market, its price has been decreasing.
The market currently seems to be showing small signs of recovery, a historic January for Bitcoin and with it the momentum in the global crypto market.. However, uncertainty and tension have been felt in the Uniswap community, and among venture firms that are interested in the voting process on the platform’s governance. With voting scheduled to end on February 10, the UNI price has experienced a temporary drop as the community impatiently awaits the results..
UNI price from one year ago to today – Source: www.coinmarketcap.com
If the launch of Uniswap on the BSC network is approved, it can generate just the opposite in relation to price, since BSC in 2022 exceeded the number of active wallets compared to the Ethereum network.
Disclaimer: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
It may interest you:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.
