The cryptocurrency market is full of exciting developments this weekend. While Uniswap is not backing down in its legal battle, Coinbase is announcing plans to list new tokens and Terra Classic is preparing for an expected upgrade. Meanwhile, Celsius (CEL coin) is unexpectedly gaining ground, sparking “pump-and-dump” concerns in the market. Here are some popular altcoins that rose the most and their reasons for the rise…
Uniswap soars amid legal battle
Uniswap, the leading decentralized exchange (DEX), is surging. Its native token, UNI, surged over 17% to surpass $10. This rise is attributed to two main factors. First, Uniswap is taking a firm stance against the SEC and showing confidence in their legal case after receiving a Wells notice from the US Securities and Exchange Commission (SEC). Secondly, technical indicators and on-chain data indicate a possible bullish trend for UNI. Some analysts are predicting further rises to $12.80 if the bullish momentum continues. This positive outlook is supported by the increase in dormant tokens being moved recently. This has historically been a sign of price increases for UNI.
Coinbase increases Core (CORE) price
Cryptocurrency exchange Coinbase is expanding its product offering, and Core (CORE) is a major beneficiary. Coinbase recently included CORE in its listing roadmap, making it a top gainer according to CoinMarketCap data. While this inclusion does not guarantee a definitive listing, historically all projects on Coinbase’s roadmap have eventually been listed. Core runs on a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM) and offers users the ability to leverage Ethereum smart contracts and decentralized applications. This compatibility and the unique consensus mechanism that combines Bitcoin mining power with Delegated Proof-of-Stake (DPoS) could contribute to its wider adoption. The announcement caused CORE prices to skyrocket over 20% in the last 24 hours.
Terra Classic (LUNC) prepares for upgrade, prices rise
Terra Luna Classic (LUNC), the token associated with the collapsed Terra ecosystem, is preparing for a significant upgrade. Developer group Genuine Labs announced that they are ready to implement the latest SDK 47 version to the Terra Classic chain, aiming to increase efficiency and robustness. This news, along with the broader market recovery, resulted in a 3% increase in LUNC prices. The upgrade is part of Genuine Labs’ roadmap to improve the security and overall functionality of the Terra Classic chain.
CEL coin rose meteorically: What is the reason?
Celsius (CEL) is the story of the day, recording a staggering 120% increase in the last 24 hours. This dramatic rise is attributed to a number of factors, including increased trading volumes, whale activity, and an overall crypto market rally. CEL’s daily trading volume skyrocketed by 872%, surpassing established players such as Bitcoin and Ethereum. This volatility has sparked debate in the crypto community, with some celebrating the gains but fearing a potential “pump-and-dump” scenario considering CEL’s rise has outpaced even popular meme coins.
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