UNI Token Surges on DeFi Regulatory Optimism, Hits $8.66 Before Retracing Amid High Volume

Uniswap (UNI) experienced significant volatility over the past 24 hours, initially surging in response to supportive regulatory developments. Positive remarks from the US SEC Chair regarding DeFi and potential regulatory exemptions, along with a sharp increase in total value locked (TVL) to $5.35 billion, fueled strong buying momentum and drove UNI to a recent peak of $8.66. However, after reaching this high, the price retraced, with the latest Binance data showing UNI trading at $7.903, down 4.79% from the 24-hour open of $8.301. This pullback aligns with profit-taking following the rapid rally and broader market fluctuations, despite ongoing optimism in the DeFi sector.

Currently, UNI maintains robust trading activity, with a 24-hour volume of approximately $529 million and a market capitalization near $4.8 billion, reflecting its continued prominence among DeFi tokens.