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UNI price likely to recover with these developments in Uniswap ecosystem

Uniswap, one of the largest decentralized exchanges in the crypto ecosystem, witnessed an increase in its revenue between October 22 and 28. Two bullish catalysts, UNI’s revenue growth and a recently passed proposal, are the likely drivers of Uniswap’s price rally. The Uniswap community has passed the temperature check proposal to invest $12 million worth of UNI tokens in the market maker, Ekubo Protocol. In the past six days, the Uniswap Foundation deposited a total of 9.8 million UNI tokens, worth $41.8 million to cryptocurrency exchange platforms Kraken, FalconX and OKX, according to data from on-chain tracker Spot on Chain.

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