UNI Surges 48% on SEC Approval for Permissioned AMMs
The price of Uniswap's native token UNI surged 47.85% to $8.87 in less than two days, putting it within reach of key resistance levels at $9.00 and $9.20.
This move comes after the US Securities and Exchange Commission introduced a temporary exemption for certain regulated venues using permissioned automated market makers, or AMMs, to trade tokenized U.S. stocks.
The exemption applies to qualifying Tokenized Securities Venues under specific conditions and does not directly approve Uniswap itself for stock trading, but experts believe it could create new opportunities for tokenized stock trading on the platform.
According to CoinCodex's 1-month UNI price prediction, analysts expect the price of UNI to reach $10.79 over the coming weeks, implying a continued upward trend from current levels.