Uniswap (UNI) was among the best performers among the top-cap cryptocurrency tokens in the previous 24 hours, logging better gains than some top cryptocurrencies, namely Bitcoin (BTC), Ether (ETH), and Binance Coin (BNB).
On Sept. 15, the UNI/USD exchange rate jumped 13.26% to hit its seven-day high $25.68. Traders continued to bid higher on the pair entering Wednesday, pushing its value higher to $26.07 at one point in time, up more than 15% from the previous session’s open of $22.66.
Market-wide recovery behind UNI gains?
A majority of Uniswap’s gains in the previous 24 hours seems to have surfaced in the wake of a market-wide recovery.
For instance, the said timeframe witnessed Bitcoin, the benchmark cryptocurrency that enjoys heavy influence on the rest of the crypto tokens, climbed above $47,000 following a 4.85% upside move on Tuesday. Meanwhile, Ethereum saw its native asset ETH rallying toward $3,500 in a 4.57% price jump.