Uniswap rallies 117% as governance proposal eyes $38M monthly UNI buybacks
Uniswap’s native token UNI surged roughly 117% in recent trading as traders reacted to a governance proposal that, if approved, could fund about $38 million in monthly UNI buybacks. The move pushed UNI above resistance that had capped prices for months, signaling a potential end to the downtrend and drawing fresh attention from DeFi investors and market participants. The proposal’s buyback mechanism is being touted by supporters as a way to create sustained buy pressure and improve token economics, though execution depends on a governance vote and implementation details. Market watchers say the plan could materially affect liquidity and sentiment if it proceeds, but caution that outcomes hinge on the final terms, funding source, and whether tokens are retired or redistributed. For holders, the announcement has already shifted expectations; for the broader crypto market, it’s a reminder of how governance tools can directly move token prices.