DeFi’s Hottest New Token Uniswap Plunges 12.5% After Parabolic Rally

According to CoinGecko data, Uniswap’s UNI token has plunged over 12.5% in the past 24 hours, adding to the losses it incurred on Friday. UNI’s decline comes after another one of DeFi’s darlings, Yearn.finance’s YFI coin, has also faced a retracement.

As reported by Bitcoinist previously, the coin dropped over 10% on Saturday due to weakness in the overall DeFi space. Maple Leaf Capital, a crypto consultant and financier, made the following comment on UNI’s growth: They explained that UNI reaching such a high valuation will potenitally trigger funds and big investors to take profits.

Timeline of Uniswap, Uni-coin, Yearn-finance