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Proposal to deploy Uniswap v3 on BNB Chain gets 80% support

0xPlasma Labs’s proposal seeks to have Uniswap v3 deployed on the BNB Chain. Uniswap could benefit from an ecosystem with nearly $1.2 billion in TVL and a large, growing user base. The proposal is expected to go to a final governance vote in coming weeks. Decentralised exchange Uniswap‘s v3 protocol could be deployed on the […]

The post Proposal to deploy Uniswap v3 on BNB Chain gets 80% support appeared first on CoinJournal.

  • 0xPlasma Labs’s proposal seeks to have Uniswap v3 deployed on the BNB Chain.
  • Uniswap could benefit from an ecosystem with nearly $1.2 billion in TVL and a large, growing user base.
  • The proposal is expected to go to a final governance vote in coming weeks.

Decentralised exchange Uniswap‘s v3 protocol could be deployed on the BNB Chain after a majority of participants in a community vote on the proposal gave the move a thumbs up.

0xPlasma Labs proposal for Uniswap v3 approved by community

According to 0xPlasma Labs, a decentralised finance (DeFi) and Metaverse NFTs platform, an initial vote on the proposal saw 80.28% of participants approve it. 0xPlasma Labs introduced the Uniswap proposal on 12 December 2022, with an announcement it shared on 22 January 2023 showing that 6,495 holders of Uniswap native token UNI voted in favour.

About 20 million tokens were locked as part of the process, with this “temperature check” representing “the biggest number for the whole Uniswap Governance History.” About 4.9 million UNI tokens, or roughly 19.72% of the holders were against the move.

Benefits to the Unswap ecosystem

0xPlasma Labs noted in their proposal that deploying Uniswap v3 on the BNB Chain could bring several benefits to the DEX ecosystem. For one, the BNB Chain has a huge user base that’s still growing, something that could see Uniswap benefit from a potential new market.

Additionally, BNB Chain’s high transaction speeds and low fees are key features that will benefit Uniswap’s decentralised exchange services and DeFi (BNB Chain has a total value locked, or TVL, of about $1.2 billion.)

BNB Chain’s strong governance model and active community could provide valuable support and feedback for the development of Uniswap v3,” the 0xPlasma Labs team wrote.

The approval means the proposal is set for the final governance vote expected within coming weeks.

The post Proposal to deploy Uniswap v3 on BNB Chain gets 80% support appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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Altcoins

Pro: the recent rally in Bitcoin may not be ‘sustainable’

Katie Stockton expects a pullback in Bitcoin price ahead. She explained her “neutral” view on CNBC’s “Squawk Box”. Bitcoin has climbed roughly 40% since the start of 2023. Bitcoin has now surpassed the key $23,000 level but Katie Stockton of Fairlead Strategies continues to recommend caution as the recent rally could reverse just as easily. […]

The post Pro: the recent rally in Bitcoin may not be ‘sustainable’ appeared first on CoinJournal.

  • Katie Stockton expects a pullback in Bitcoin price ahead.
  • She explained her “neutral” view on CNBC’s “Squawk Box”.
  • Bitcoin has climbed roughly 40% since the start of 2023.

Bitcoin has now surpassed the key $23,000 level but Katie Stockton of Fairlead Strategies continues to recommend caution as the recent rally could reverse just as easily.

Stockton defends her stance on CNBC

Year-to-date, the first ever decentralised cryptocurrency has gained about 40% – a strength she says is an opportunity for investors to pull out.

Reiterating her “neutral” stance on Bitcoin, Stockton said this week on CNBC’s “Squawk Box”:

When you see such strong, steep rallies, they’re more characteristic of countertrend moves. At one point, we had 14 consecutive up days this month for BTC. So, we’re sceptical to its sustainability and see it as countertrend.

The upcoming week is a crucial one for Bitcoin because of the Fed’s announcement. The CME FedWatch Tool currently signals a more than 98% probability of a 25 basis points hike this time.

Bitcoin has broken above its 200-day MA

Also on Sunday, a top trader and analyst, Peter Brandt warned of a near-term pullback in BTC. Others, including Michael van de Poppe and Credible Crypto have a similar opinion as well.

Interestingly, Bitcoin is now trading meaningfully above its 200-day Moving Average. Still, Katie Stockton said:

This has happened before and it proved to be a false breakout. So, we’re not convinced we have a breakout here. But it’s an incremental positive. We hope this manifests in our longer-term indicators which still very much point lower.

She’s not particularly constructive either on the benchmark S&P index that’s up more than 6.0% for the year at writing.

The post Pro: the recent rally in Bitcoin may not be ‘sustainable’ appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

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