Ethereum price followed the broader crypto market sell-off, but its longer term price weakness is driven by network-specific factors.
Uniswap news
Some top LSTs have previously seen price deviations of up to 77% from Ether’s price due to mass sell-offs paired with liquidations on leveraged lending protocols.
The liquidity management app’s team had previously stated that some strategies would be “delisted,” but the new deposit block affects all strategies.
Uniswap Labs and UNI tokenholders will benefit the most from Unichain, while ETH holders will likely see the biggest loss, says DeFi Report founder Michael Nadeau.
BNB price staged a mild recovery, but could lackluster network activity and less-than-stellar Binance launchpad results put a cap on the gains?
UNI defies the marketwide sell-off by posting a 10%+ gain after the launch of Unichain.
The app chain promises faster and cheaper transactions and cross-chain interoperability, according to Uniswap.