Uniswap jumps 22% and altcoins rip while bitcoin stalls before the Fed
CoinDesk 2026-06-17 04:35:44
Context: The cryptocurrency market experienced a significant surge in altcoins, led by Uniswap's 22% jump, while Bitcoin remained stagnant near $66,000, as investors awaited the Federal Reserve's meeting under the new leadership of Kevin Warsh. This market movement occurred alongside a decline in oil prices to a three-month low. The altcoin rally was broad, with HYPE and Solana contributing to the upward trend.
Key Facts
- Uniswap's UNI token surged 22% following Standard Chartered's prediction of a $100 long-term target for the cryptocurrency.
- The altcoin market experienced a broad rally, led by tokens such as HYPE and Solana, which contributed to the overall upward trend in the sector.
- Bitcoin's price remained relatively stable, holding near $66,000, as investors awaited the Federal Reserve's meeting under the leadership of Kevin Warsh.
- The Federal Reserve met for the first time under Kevin Warsh, who has taken on a new role at the central bank, potentially influencing monetary policy decisions.
- Oil prices fell to a three-month low, which may have contributed to the overall market dynamics and investor sentiment on the day of the Federal Reserve's meeting.