Toncoin (TON) v Uniswap (UNI): Where Will Bulls Settle?
Amid the negative market sentiment, some crypto assets outperformed with double-digit weekly inflows. Last week saw huge losses in crypto assets after Bitcoin traded below $70,000 alongside altcoins falling below previous resistance levels. This bearish trajectory dragged assets downwards leading to billions liquidated from the market.
Amid the uncertainty, Uniswap and Toncoin saw inflows in the last seven days. Today, crypto assets attempt a rebound with the market cap rising to $2.42 trillion while Uniswap surged 10%. However, Toncoin saw losses today despite a positive weekly momentum.
Uniswap Attracts Bulls
Decentralized crypto exchange, Uniswap picked up gains leading the top 20 crypto assets by market cap in short-term recovery. While other assets recorded inflows between 0.5% and 2%, UNI spiked over 10% as bulls ignited towards wider gains. At press time, UNI trades at $11.46 soaring past the $10 resistance level.
In the last seven days, Uniswap saw 15% gains and over 50% inflows in the previous 30 days. This shows bullish momentum on the part of the asset as holders build up the rally. UNI’s market cap stands at $6.8 billion while trading volume ticked up 3% above $378 million. The assets have scaled resistance levels but stand at 74% below its $44 all-time high during the bull run in 2021.
Uniswap continues to tick upwards because of the activities of whales. On June 15, a wallet linked to Amber Group bought $20 million worth of Ethereum and Uniswap signaling an upward drive.
Toncoin Looks To Consolidate Weekly Trading
Toncoin has plummeted 2.9% today while other assets saw slight inflows. This week, TON spiked 12.41% while several altcoins saw massive losses. The asset growth comes as its total value locked (TVL) increases as adoption soars. The network’s success is linked to Notcoin and TapSwap’s popularity. Both platforms boast 30 million and 49 million users respectively. At the moment, bulls seem to settle towards Uniswap although a change in sentiments can spike TON.
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