Uniswap Price Drops 3.6% Amid Broader Crypto Market Correction

Uniswap's (UNI) price dropped by 3.6% over the last day, but this decline can be attributed to a normal post-rally mean reversion in a risk-off market.

The broader crypto market also experienced a slight decline, with the total market cap falling by about 1.85% and altcoins slipping by approximately 0.77%, which puts UNI's 3.04% drop into context as a higher-beta DeFi asset.

This pullback seems to be a consolidation of Uniswap's recent surge, which was nearly 20% following a bullish research note from Standard Chartered targeting a $100 price by 2030.