The UNI token of the Uniswap protocol surged 30% on September 18, reaching a 10-month high of nearly $9.20. The main catalyst for this rally is the SEC’s Innovation Exemption, offering temporary relief for on-chain trading of certain tokenized stocks. Hayden Adams, creator of the Uniswap Protocol, positively highlighted Commissioner Hester Peirce’s comment that truly decentralized systems do not need an exemption. This decision comes amid a broader recovery in the cryptocurrency market, with Bitcoin surpassing $78,000 and Ethereum reclaiming the $2,500 level. Several analysts target further gains toward $11, $12.75 or even $20, though the RSI at 88 signals extreme overbought conditions that could trigger a short-term pullback.
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