Centralized exchanges (CEXs) in the US have come under intense pressure from regulators this year.
Just last week, the US Securities and Exchange Commission (SEC) sued both Coinbase and Binance over operating in the country as unregistered securities exchanges.
Observers have said that increased scrutiny from regulators in the US presents an existential risk to exchanges such as Coinbase, the majority of whose user base resides in the US.
Unsurprisingly, focus is turning towards decentralized exchange (DEX) alternatives, such as Uniswap.
Decentralized exchanges don’t appear to be in the regulatory firing line in quite the same way as centralized exchanges.
That’s because Uniswap isn’t a company with headquarters in the US like Coinbase.
Rather it is a Decentralized Autonomous Organisation (DAO) run decentralized application (Dapp) but on immutable smart contracts that have been directly deployed onto borderless blockchains like Ethereum, Polygon and many more.
Despite the recent SEC lawsuits, the number of unique active wallets interacting with the exchange, as well as the number of transactions taking place on it, has fallen recently.
But as can be seen in the chart presented by DappRadar, the trend seems to point towards to more explosive growth for Uniswap ahead.
That should create beneficial conditions for the appreciation of Uniswap’s $UNI token.
$UNI was last trading around $4.37, having rebounded more than 20% from last week’s lows in the $3.60 area.
The cryptocurrency remains in a vicious downtrend from its 2023 highs in the $7.50 area.
But if broader market conditions can stabilize, $UNI could ride the hype back towards $10.
But broader market conditions are precarious, with bitcoin and ether seemingly both on the verge of breaking below key long-term support levels, which could $UNI lower in the short-term as well.
Investors looking for short-term gains might instead want to check out these trending altcoins.
Wall Street Memes ($WSM)
Wall Street Memes, one of the internet’s hottest retail investing communities, rose to prominence in the meme stock craze of 2021 and has recently been expanding its relevance in the cryptocurrency space with the presale of its new $WSM token.
The success of the $WSM presale, which has raised more than $7 million in just over two weeks, isn’t surprising given the size of Wall Street Memes’ community.
Not only are there 523k hyper-engaged community members on its wallstbets Instagram account, there are another 214k on Twitter and more than 100k across its two other Instagram channels, wallstgonewild and wallstbullsnft.
All told, Wall Street Memes has a 1 million-strong social community of degens, which analysts think all but guarantees that the $WSM token will be listed on tier 1 crypto exchanges like Binance.
— Wall Street Memes (@wallstmemes) June 12, 2023
Analysts are already predicting 10x gains for Wall Street Memes when it lists on exchanges and you can be a part of it.
The yPredict market intelligence platform is building a first-of-its-kind, institutional-grade financial price prediction system.
Observers think the tool, which is built on yPredict’s in-house deep data analysis, will help crypto investors discover the next explosive crypto with ease.
The best part, yPredict’s crypto price prediction system will remain free and open for all users to access – the price predictions will be made publicly available and require no login to see, the project’s Whitepaper explains.
Embark on an extraordinary AI-powered journey with #YPredict! It's not just a utility token, but a gateway to a world of groundbreaking products and possibilities.
Experience unparalleled marketing excellence with our industry-leading content editor, designed to… pic.twitter.com/heQoBiRmPS
— yPredict.ai (@yPredict_ai) June 12, 2023
But yPredict offers investors much more than just crypto price predictions.
The project is “building a cutting-edge crypto research and trading platform that provides traders and investors access to dozens of AI-powered signals, breakouts, pattern recognition, and social/news sentiment features”, the start-up says in yPredict’s Litepaper.
As AI continues to make waves in the crypto industry and beyond, projects like yPredict are expected to attract significant interest.
That’s why many industry observers are tipping AI cryptos like yPredict’s native $YPRED token, currently available via presale, to be amongst the next best-performing coins.
The platform will also facilitate trade in recycled materials and encourage individuals and businesses to offset their carbon footprint.
And the project’s presale of its native $ECOTERRA token has been absolutely flying.
Sales recently surpassed $5.1 million, a strong vote of confidence from the crypto investing community in the project’s vision.
Attention: We've reached a new milestone
$5.1 MILLION RAISED
Let's keep the momentum going, ecoterra fam!
— ecoterra (@ecoterraio) June 15, 2023
Observers expect the pace of the presale to pick up now that the project is accepting invitations for users to try out a demo version of the flagship R2E application.
Nascent green Web3 projects such as ecoterra are expected to play an increasingly important role in global efforts to address climate change in the decades ahead, as crypto’s broader adoption increases.
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Wall Street Memes (WSM) - Newest Meme Coin
- Community of 1 Million Followers
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