An unexpectedly legal counterpunch: Unicoin has officially sued Uniswap Labs in a New York court, even requesting the cancellation of trademark protection rights for the term
$UNI after it was sent 3 warning letters ahead of the planned launch on September 28.
Against the backdrop of
$BTC currently fluctuating around the 78.109,6 USD mark (-1.72% at the time of writing), market sentiment is very easily shaken. With
$UNI , this lawsuit is the perfect excuse for the selling side to push the price down and trigger additional selling pressure.
My hands-on perspective: Brand disputes rarely harm a project’s internal fundamentals, but when the market is on fire, this psychological move can easily create a deep shakeout momentum. Brothers trading futures, absolutely do not FOMO into catching a falling knife right now. The most reasonable plan is to remain patient, stand aside to observe price reactions around the support zone, and only consider entering after a clear reversal signal appears.
Have you already got a position of
$UNI or are you still standing by and watching? Click
$UNI below to look at the candles! 👇
#DeFi #Uniswap #UNI #Legal