Crypto news: prices and trends of Uniswap (UNI), Near and Bancor (BNT)

How are the Uniswap (UNI), Near and Bancor (BNT) coins performing within the crypto market? 

Let’s take a look below at their price trends and some important news about them. 

Focus on the price of Uniswap: comparison with Near and Bancor crypto assets 

According to the latest data, the incentives provided by Uniswap on the Optimism Network (OP) had different results in the liquidity and decentralized finance (DeFi) sectors.

In any case, although the effectiveness of these incentives may vary, UNI’s price has shown a solid upward trend on the charts.

We see that, in the past few days, UNI has experienced a remarkable rally, reaching around $5.46 on CoinGecko, up a remarkable 15.3%. In addition, over the past week, UNI has seen a significant 22% growth. 

These notable price gains reflect positive market sentiment toward UNI and indicate the potential for further upward movement. 

We also see analysis of on-chain data that revealed a significant decrease in the supply of Uniswap on exchanges in early June, followed by a period of consolidation beginning in the middle of the month. 

This data indicates a reduction in short-term selling pressure on UNI as the amount of UNI tokens transferred to centralized exchanges (CEXs) for sale has decreased.

The decrease in the supply of UNI on exchanges suggests that token holders are less inclined to sell them immediately. However, this reduction could have positive effects on the price of UNI, as less supply available for trading could promote better supply-demand dynamics.

Finally, the consolidation of UNI in the markets indicates a possible change in market sentiment.

Investors and traders might take a more long-term approach, holding on to their UNI, considering the potential for further price appreciation or the desire to participate in the governance and staking activities offered by Uniswap.

NEAR Foundation and the partnership with Alibaba Cloud

The NEAR Foundation, the organization responsible for developing the NEAR Protocol Ecosystem, recently entered into a strategic partnership with Alibaba Cloud, the prominent digital technology platform of the Alibaba Group. 

The main goal is to expand the NEAR Foundation’s influence within Alibaba Cloud’s broad ecosystem of developers in Asia and the Middle East.

Through this partnership, it seeks to simplify the process of starting new NEAR validators using the “plug-and-play” infrastructure offered by Alibaba Cloud in order to attract more developers to work on the NEAR protocol. 

In addition, the NEAR Foundation and Alibaba Cloud are collaborating to offer a remote procedure call (RPC) service to developers and users within the NEAR ecosystem. 

This service, along with multi-chain data indexing, provides developers with an API to query the data, thus simplifying the process of finding the data on different blockchains.

Application developers operating on NEAR’s blockchain operating system (BOS) can now leverage the infrastructure provided by Alibaba Cloud. Specifically, BOS offers a unified interface for browsing and discovering open web experiences compatible with any blockchain. 

Its distinctive feature, FastAuth, allows developers to integrate new users via a simple email address, eliminating the need to use complex encryption operations.

Since the announcement of the collaboration, NEAR’s price in the market has risen 8% to $1.57, indicating a positive response from investors. 

As part of their future efforts, both entities intend to further expand their collaboration through participation in a series of global conferences and events focused on Web3.

In addition, this announcement came shortly after the appointment of Joseph Tsai as Alibaba’s new president, who is known for his active investment in Web3. 

Bancor: underperforming the broader crypto market 

As we know, Bancor is an ecosystem based on decentralized, open source protocols that facilitates on-chain trading and liquidity.

Its main protocol, called Carbon, is a decentralized trading platform that allows users to implement automated trading strategies using limit i and range orders, offering the ability to combine these orders to create automated buy-down and sell-up strategies.

Currently, according to CoinGecko data, the price of Bancor Network (BNT) is $0.387823, with a market capitalization of $58,602,127 and a circulating supply of 150 million BNT. 

In the past 24 hours, the price has decreased by 1.08%, while in the past 7 days it has increased by 9.93%.

The trading volume of Bancor Network (BNT) in the last 24 hours was $350,285, showing a 3.70% decrease from the previous day and indicating a recent decrease in market activity.

Despite registering a 9.90% increase over the past 7 days, Bancor Network (BNT) has underperformed the global cryptocurrency market, which is up 5.70%. 

It has also underperformed compared to other similar cryptocurrencies within the Ethereum ecosystem, which registered a 12.70% increase.