UNI, MKR register spikes in whale transactions but the alts

Uniswap's UNI and MakerDAO's MKR are the two leading altcoins that have seen a significant spike in whale transactions above $100,000 on their respective networks since the beginning of this month, data from Santiment revealed.

Timeline of Maker, Uniswap

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $8.96. The market had a breakout to the upside that found resistance at $9.55, which has caused the market to roll over and head back down.

MakerDAO (decentralized autonomous organization) founder Rune Christensen has called for the community members to consider depegging Maker (MKR)'s stablecoin DAI from USD, and perhaps (slowly) getting into ethereum (ETH) – which Vitalik Buterin argued would be a “terrible idea.”

The co-founder of the Decentralized Autonomous Organization has expressed that he plans to sell $3.5 billion worth of USDC for ETH.  DAI Could Depeg MakerDAO co-founder Rune Christensen's decision to sell such a vast amount of USDC for ETH could result in another stablecoin catastrophe.

The founder of MakerDAO, Rune Christensen, said on the project's official Discord channel that they are seriously considering moving away from using Circle's stablecoin USD Coin (USDC) following the immediate closure of USDC addresses sanctioned by US authorities for interacting with Tornado Cash.

In a big development, Rune Chirstensen, founder of MakerDAO has urged all the members to “seriously consider” preparing the depeg of the DAI stablecoin from the U.S. Dollar. The comments came on the MakerDAO discord channel on Thursday, August 11, after the U.S. Treasury sanctioned crypto mixer Tornado Cash earlier this week.

MakerDAO is set to discuss whether it needs to remove the USDC backing for DAI which could depeg the stablecoin from the US dollar. The post MakerDAO founder says it's ‘almost inevitable' DAI will abandon USD peg appeared first on The Block.

Following Circle's freeze of blacklisted Tornado Cash addresses, MakerDAO is re-assessing the risks associated with its USDC collateral. The post MakerDAO plans against sanctions from USDC exposure appeared first on CryptoSlate.

Recent Uniswap price analysis shows that the UNI/USD pair has been on a strong uptrend, rising from $8.16 to $9.22. This bullish run has been fueled by increased buying pressure and positive sentiment in the market.

Uniswap price falls below $9 after it was met with a sell-off, meaning that the current price whos a downward momentum on the price of the altcoin. Uniswap Falls Below $9 The coin dropped below the $9 price level and was approaching its local support level.

Uniswap, the Ethereum-based exchange has been quiet on the tear since June 18 but suddenly jumped up with a steep gain of 150% in these past seven weeks. With its strong price rally, UNI is now the 15th largest crypto in terms of market cap.