Crypto Rally Continues: UNI Soars 72%, BCH and XRP See Double-Digit Gains
UNI, the native token of Uniswap, jumped by an impressive 72% as Binance Holdings reported over $71 million in trading volume. This surge is part of a broader crypto rally that has seen several assets post double-digit gains.
The price increase for UNI comes after CME Group announced plans to launch futures tied to the asset on October 19. This move has been met with enthusiasm from market participants, contributing to the token's significant price appreciation.
Other assets also benefited from the rally, including BCH, which saw a double-digit gain of its own. XRP in particular experienced explosive growth, with Binance registering an average of 21.7 million XRP deposits per day during the week ending September 20 - a staggering 663% increase.
The surge in crypto prices has also led several major players to adopt covered-call strategies to generate Bitcoin yield. BlackRock, Binance, Bitwise, and Lombard have all independently employed this approach, using option premiums as their underlying income source.