Short squeeze alert for December 1: Two cryptocurrencies with potential to skyrocket

A bearish sentiment is dominating two cryptocurrencies with an increased number of short positions recently opened. If sentiment shifts, short squeezes might become likely events for the next hours or days.

Timeline of Filecoin, Uniswap

An active crypto whale has been steadily accumulating UNI, the native token to Uniswap, one of the world's most active decentralized exchanges (DEXes). This development suggests that the address believes the token may edge higher in the coming trading days or weeks, extending gains after a sharp leg up on November 22 when UNI soared, breaking above key resistance levels.

Uniswap X, a trailblazing platform in the decentralized finance (DeFi) arena, has hit a monumental milestone with its cumulative trading volume soaring past the $1 billion mark. Launched in July this year, Uniswap X is not just another name in the bustling world of DeFi.

A group of seven Uniswap DAO delegates who vote over 80% of the time — but possess marginal voting power — moved closer to receiving a voting power boost after a Wednesday temperature check vote.

Story Highlights The live price of UniSwap coin is . UNI's price could reach a maximum of $8.69 by the end of 2023. Unicoin price, with a potential surge, may reach a high of $61.89 by the end of 2030. DeFi's have come into existence with the idea of no intermediaries.

Dmitry Machikhin, BitOK CEO, comments on Uniswap's KYC hook inclusion, asserting its essential role in avoiding regulatory pressures and championing the move toward crypto-sector compliance.

Uniswap's latest feature, an opt-in KYC hook, has set the crypto realm ablaze with debate and speculation. Advocates argue for its practicality, while skeptics see a slippery slope toward stricter regulatory controls in decentralized finance.

While UNI's price action remained bearish, Grayscale did give Uniswap holders a reason to rejoice. Grayscale revealed its holdings that showed UNI as a part of the investment giant's portfolio.

The popular decentralized exchange, Uniswap, is requesting an on-chain approval for a $62 million funding boost for its developing arm, the Uniswap Foundation. This latest funding request comes as the second part of a previously earmarked $74 million funding initiative.

UNI stayed in risky waters considering the inability of the bulls to push it outside September's range. However, that didn't stop the Uniswap network from making strides on the dApp growth front.

Filecoin (FIL) has been facing a long-term downtrend, marked by wavering buyer confidence and a series of concerning technical indicators. A recent price analysis reveals a bearish order block at $3.6 on FIL's one-day chart, with a closely tested liquidity zone at $3 over the past month.