- This weekend has been filled with exciting developments in the cryptocurrency market.
- Coinbase announces plans to list new tokens, while Terra Classic prepares for a much-anticipated upgrade.
- Celsius (CEL coin) unexpectedly gains value, raising concerns about potential “pump-and-dump” schemes.
Stay updated with the latest in the crypto world as Uniswap, Coinbase, and Terra Classic make significant moves.
Uniswap Surges Amid Legal Battle
Leading decentralized exchange (DEX) Uniswap is experiencing a surge. Its native token, UNI, has increased by over 17%, surpassing $10. This rise is attributed to two main factors. Firstly, Uniswap is showing strong confidence in its legal battle against the U.S. Securities and Exchange Commission (SEC), following a Wells notice from the SEC. Secondly, technical indicators and on-chain data suggest a potential bullish trend for UNI. Some analysts predict further increases up to $12.80 if the bullish momentum continues. This positive outlook is supported by a recent increase in the movement of dormant tokens, historically a sign of price increases for UNI.
Coinbase Boosts Core (CORE) Price
Cryptocurrency exchange Coinbase is expanding its product range, with Core (CORE) being a major beneficiary. Coinbase recently included CORE in its listing roadmap, making it one of the top gainers according to CoinMarketCap data. While inclusion in the roadmap does not guarantee a listing, historically, all projects on Coinbase’s roadmap have eventually been listed. Core operates on a layer-1 blockchain compatible with the Ethereum Virtual Machine (EVM), allowing users to benefit from Ethereum smart contracts and decentralized applications. This compatibility, combined with its unique consensus mechanism that merges Bitcoin mining power with Delegated Proof-of-Stake (DPoS), could contribute to broader adoption. The announcement led to a more than 20% surge in CORE prices within the last 24 hours.
Terra Classic (LUNC) Prepares for Upgrade, Prices Rise
The token associated with the collapsed Terra ecosystem, Terra Luna Classic (LUNC), is gearing up for a significant upgrade. Developer group Genuine Labs announced their readiness to implement the latest SDK 47 version on the Terra Classic chain, aimed at enhancing efficiency and robustness. This news, coupled with a broader market recovery, led to 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’s Meteoric Rise: What’s Behind It?
Celsius (CEL) has recorded a staggering 120% increase in the last 24 hours, making it the story of the day. This dramatic rise is attributed to several factors, including increased trading volumes, whale activity, and a general uptrend in the crypto market. CEL’s daily trading volume surged by 872%, surpassing established players like Bitcoin and Ethereum. This spike has sparked discussions within the crypto community, with some celebrating the gains while others fear a potential “pump-and-dump” scenario, given that CEL’s rise has even outpaced popular meme coins.
Conclusion
This weekend’s developments in the cryptocurrency market highlight the dynamic and often unpredictable nature of digital assets. Uniswap’s legal battle, Coinbase’s expansion, Terra Classic’s upgrade, and Celsius’s unexpected rise all contribute to a vibrant and rapidly evolving market landscape. Investors should stay informed and exercise caution, as the crypto market continues to offer both opportunities and risks.
