UNI Token Drops 7% Amid Profit-Taking, Token Unlock Proposal, and Security Concerns Impact Market

Uniswap's UNI token experienced a 7.01% decline over the past 24 hours, with the current price at $7.032 (Binance data), down from a 24h open of $7.562. The price drop follows a period of strong bullish momentum earlier in June, which saw UNI rally over 70% from its April lows and break key resistance levels. The recent decline can be attributed to profit-taking after the sharp rally, general volatility in the broader crypto market, and uncertainty surrounding the Uniswap Foundation's proposal to delay a token unlock affecting 8.33% of UNI's supply—an event currently supported by 72% of community voters. Additionally, security concerns have emerged as reports indicate a North Korean-linked group is targeting crypto professionals with malware, which may have contributed to cautious sentiment.

UNI remains one of the leading decentralized exchange tokens, with a market capitalization of approximately $4.43 billion, 24-hour trading volume near $693 million, and a circulating supply of about 600.5 million UNI out of a 1 billion maximum. Despite the recent pullback, UNI continues to see significant trading activity and remains sensitive to both technical developments and ecosystem news.