Uniswap's Price Rallies as Japan's Third-Largest Broker Joins DeFi Deal
Uniswap (UNI) has seen its price rally by 0.65% to $8.91 as Bitcoin reclaims $86,000. This uptick follows a significant development in Japan, where SMBC Nikko Securities, the country's third-largest brokerage firm, has signed a memorandum of understanding with Uniswap Labs, Base, and Nyx Foundation.
The partnership aims to build a DeFi Gateway for the Japanese market, leveraging Uniswap v4 Hooks to create liquidity pools compliant with Japan's regulatory requirements. The project is expected to launch in mid-2027 and will involve SMBC Nikko Securities working closely with Nethermind, Base, and other partners.
Data from CoinGlass shows that Uniswap's open interest has eased slightly to $915 million, down from a September peak of $971 million. Analysts are watching chart patterns, including a possible cup-and-handle setup with resistance near $10.30 and a falling wedge on the 1-hour chart with a breakout target near $11.50.