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UNI Surges 10% This Week as Bitcoin Consolidates
It comes as the altcoin season index has risen from 12 to 25.
Updated May 29, 2025, 6:45 p.m. Published May 29, 2025, 1:58 p.m. 1 min read
What to know:
- UNI has risen by 10% this week, rising to as high as $7.63 on Thursday before moving back to test the $7.00 level of support.
- It comes as bitcoin continues to consolidate at $108,000 after it formed a new record high last week.
- CoinMarketCap's altcoin season index is currently at 25 after being as low as 12 last month.
Uniswap's native {{UNI}} token has risen by 10% this week amid a wider altcoin market rally.
The move comes as bitcoin consolidates around $108,000 after setting a record high of $111,970 last week.
UNI is currently trading at $7.04 after rising to as high as $7.63 at 03:35 UTC. It is currently testing the $7.00 level as support, which had been a point of resistance over the past week.
If UNI holds above $7.00, it could establish a firm level of support before springing toward $10, which spurred a rejection in February.
CoinMarketCap's Altcoin Season Index is currently at 25, the top-end of a bitcoin-centric market but rising significantly since last month, when it was at 12. The index signals an altcoin market when it passes through 75.
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CNBC reported Tuesday that Musk is discussing a merger between Tesla and SpaceX that would tie his tech empire closer together and instantly create the world’s fifth-largest corporate bitcoin treasury, worth $3.3 billion.
Was Sie wissen sollten:
- Elon Musk is exploring a potential merger of Tesla and SpaceX, a move that would deepen operational overlap in areas such as power infrastructure and AI-related computing.
- A combined Tesla-SpaceX entity would control about 30,221 bitcoin, worth roughly $3.3 billion, making it the fifth-largest public corporate holder of the cryptocurrency.
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