DEX Uniswap Token Gains 10% After Problems Start With OKEx
Uniswap’s own decentralized exchange (UNI) token is growing by 10% today, while the rest of the market is under pressure from negative news from the OKEx platform.
OKEx suspended withdrawals this morning indefinitely, explaining that one of the holders of its private keys “is currently assisting the public security bureau.”.
Subsequently, the Chinese media reported about the detention of OKEx founder Star Xu, however, according to their sources, this happened a week ago, while problems with the withdrawal to OKEx began only today. The exchange assures users that their assets remain safe and promises to “resume withdrawals as soon as the said private key holder is able to authorize the transaction.”.
Nevertheless, worried customers, as is often the case in such situations, today remember the phrase “not your keys – not your bitcoins.” Whether this background alone is enough to provoke the growth of the token of the most popular exchange, where users control assets with their own keys throughout the entire transaction, is impossible to say for sure. Nevertheless, it was UNI that turned out to be the most successful asset in the top 100 of the market today, excluding Filecoin, the rate of which remains volatile after yesterday’s launch..
Initially, UNI fell along with Bitcoin and other crypto assets, but then began to gain positions. Also more than 9% added the 0x decentralized exchange protocol token (ZRX).
“Sustainable Trading Notice! – Writes investment director Arca Jeff Dorman. – After an initial dump amid OKEx news, $ UNI is now growing. The wrong hasty reaction was replaced by balanced reasoning, and the market correctly understood that DEX should rise when CEX is in trouble. This is a really good sign of the emerging market. “.
However, in the weekly segment, UNI is still in the red zone. Recently, the first vote was initiated in the Uniswap system, which in itself is a landmark event for the developing non-custodian exchange, but again raised the question of the possible centralization of its management..