UNI Surges 70%: Driven by Token Burn Proposal & Whale Activity

Uniswap’s (UNI) price jumped 70% in the past week following a proposal to burn 100 million UNI tokens, fueling excitement and attracting new investors. This move aligns with deflationary strategies often seen in driving cryptocurrency prices higher. The proposal has ignited a surge in whale activity, with an unprecedented high in transactions for the token reaching its highest level in four years. Over 1,598 new wallets have been created, indicating renewed interest from both institutional players and retail investors alike.