The post Uniswap Price Pumps 17% Amid Potential Voting Power Shifts as this New Altcoin Also Looks Bullish appeared on BitcoinEthereumNews.com.

Uniswap’s governance token UNI saw a significant price pump this week as a new proposal promises to shake up the protocol’s voting dynamics. Alongside UNI’s 17% increase, a new altcoin named TG.Casino (TGC) is also making waves in its presale phase, nearing the $3 million funding milestone. Proposal to Redistribute Voting Power Sends UNI Token Surging The UNI token has been surging after a proposal to boost the voting power of certain delegates moved closer to being passed. Under this plan, 10 million UNI tokens, valued at approximately $60 million, would be distributed from the DAO’s treasury to less influential delegates. This shift promises to change the dynamics that have slowly consolidated voting power among a handful of major UNI holders. The proposal’s author argues the plan is an experiment in accountability, as delegates would lose their voting power boost if participation drops below 80%. However, critics question whether more voting will necessarily mean higher-quality voting. Either way, the markets reacted positively to the potential upheaval, with UNI’s price climbing to $6.23 – its highest value since August. CoinGecko sentiment analysis also highlights that the broader community is bullish on UNI’s prospects. Whether the optimism will pay off remains to be seen, but the potential change has brought renewed attention to one of DeFi’s largest protocols. Several Key Events Have Shaped Uniswap’s Trajectory in 2023 Uniswap has had an eventful year in 2023 so far, with several key events shaping its path. The decentralized exchange’s trading volumes eclipsed Coinbase‘s in Q1 and Q2, demonstrating DeFi’s rising prominence. Additionally, the releases of Uniswap v4 and UniswapX introduced new features and business models, such as the interface fee, which was not without controversy. Uniswap also expanded its scope by supporting unique initiatives, including the first uranium-backed token. The UNI token itself has…

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Filed under: News - @ November 23, 2023 7:26 pm