Uniswap: debate over a16z's “heavy” vote in DEX governance

The latest proposal put to a vote by Uniswap, has sparked a debate over its governance on the social network of crypto-lovers Twitter. Changpeng CZ Zhao, CEO of Binance, actually wondered whether the DEX is controlled by a16z's Venture Capital fund.

Timeline of Uniswap

Key Points: Recently, crypto-conscious people have been concerned about the story of a16z dominating the vote to install Uniswap on the BNB chain. Initially, it was revealed that a16z uses 15 million UNIs to “dominate” the vote, but the crypto community has updated that a16z controls 41.

Some of the most influential people in the cryptocurrency industry, such as Changpeng Zhao “CZ,” have expressed their belief that Andreessen Horowitz's cryptocurrency arm, a16z, is in charge of the decentralized exchange Uniswap.

Uniswap price analysis reveals that UNI/USD is currently in a bearish trend today following a significant drop in its price. The token opened the day at $7.26 and dropped to as low as $7.04, representing a 3.87% decline.

According to the most recent Uniswap price analysis, cryptocurrency is trending upward, as strong purchasing momentum is being seen. Green candlesticks have passed the $7.10 barrier and are currently marching toward their next objective.

Balance CEO Ric Burton claimed he was double-crossed by Uniswap founder Hayden Adams, who, at one point, he considered one of his “closest friends.” Burton had invested time, friendship, and an unspecified sum of money in supporting Adams to take Uniswap to market.

The Uniswap price analysis shows that there is once again a bearish pressure. Since the price last reached its peak on January 22, 2023, at $6.88, there has been some dramatic price action after that including some strong corrections, but the price levels recovered again during the last two days.

Hayden Adams, the founder of Uniswap, thinks people rooting to have crypto shut down are “incredibly cringe.” Uniswap Founder: Let People Be In a tweet on January 26, Hayden emphasized that no one has forced anybody to use crypto, buy coins, or keep up with the latest events in the industry.

Uniswap price analysis shows that the UNI/USD pair has gained tremendous value in the recent past and is currently trading at $6.56. The price action is likely to continue in the near future as the support present at $6.28 is very strong.

Uniswap [UNI] ranked third in the crypto space in terms of fees charged to users. According to Token Terminal's tweet on 25 January, the cumulative fee generated by Uniswap was $30.4 million at the time of writing.

Uniswap price analysis reveals the coin is getting weaker against the US dollar as it trends downward. The coin broke below its important support level of $6.14 and is now trading at $6.34, down by 6.08% in the last 24 hours.