Uniswap (UNI) surges over 121% in the past 24 hours

According to data from CoinMarketCap, UNI currently sits in the 26th position on CoinMarketCap’s Top-100 list of cryptocurrencies with a market cap of $965,380,960. This surge emanates from the fact that Uniswap rolled out a governance token to help minimize the pressure from the fallout with SushiSwap.

After Uniswap’s fiasco with SushiSwap, Sam Bankman-Fried, the CEO at Alameda Research, said, While Bankman-Fried’s praise of Uniswap might seem insignificant, it is noteworthy because he is credited with saving SushiSwap, Uniswap’s main competitor. Soon after Bankman-Fried’s comments on the protocol, Uniswap released its governance token and went ahead to reward its regular users instead of its rich Liquidity Providers (LPs).

Timeline of Sushiswap, Uniswap, Uni-coin