Decentralized Finance (DeFi) tokens surge after Paul Atkins’ speech, with Uniswap (UNI), XDC Network (XDC), and Jito (JTO) posting double-digit gains as top performers in the last 24 hours. Uniswap edges lower by over 4% at press time on Wednesday after a spectacular performance of a 26% surge to close a bullish engulfing candle the day before. With a brief pause at $8.67, a three-month high, UNI reverses from the $8.70 supply ceiling to take a breather.
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are showing early signs of strength as BTC is nearing its all-time highs, ETH is breaking past its consolidation, and XRP is finding support around its key level. Bitcoin price retested and found support around its 50-day Exponential Moving Average (EMA) at $101,000 on Friday, and then recovered sharply over the next three days. BTC closed above its key resistance level of $106,406 on Monday and hovered around $110,000 the next day.
Ethereum (ETH) is up 3% in the early Asian session on Wednesday, as bullish sentiments from Securities and Exchange Commission (SEC) Chair Paul Atkins’ statement on decentralized finance (DeFi) regulation continue to push the top altcoin’s price higher.
