Uniswap (UNI) is taking proactive measures to prevent a potential legal battle with the US Securities and Exchange Commission (SEC) in response to a notice from Wells. The SEC alleges that Uniswap is operating as an unregistered securities exchange and its wallet and interface function as an unregistered securities broker.
This move comes as there is growing anticipation for the approval of Ethereum (ETH) exchange-traded funds on May 23.
Uniswap, the largest decentralized exchange based on Ethereum, has refuted these allegations in its response to the SEC. It argues that its protocol does not meet the criteria for being classified as an exchange and, therefore, falls outside the jurisdiction of the regulator. Uniswap describes its protocol as a passive technology for trading cryptocurrencies. In recent weeks, Uniswap’s native token, UNI, has proven to be a lucrative investment, with its price surging by 36%.
Meanwhile, Solana (SOL) appears to be entering another bullish cycle, with its price increasing by over 21% despite facing congestion issues on its blockchain in recent months. Additionally, the meme coin Milei Moneda ($MEDA), which embraces anarcho-capitalist humor, is poised for significant growth and offers numerous benefits to investors.
Save like Milei: Invest in $MEDA!
Milei Moneda ($MEDA) provides investors with unique opportunities in decentralized finance, NFTs, and a transaction tax-free environment. This new meme currency has all the elements required to dominate the cryptocurrency space. The project’s pre-sale received tremendous support, with over $68 million worth of tokens sold. Milei Moneda is a parody of Javier Milei, an Argentine economist who has made waves in the country’s political sphere.
The foundation of the Milei Moneda project lies in its excellent tokenomics, setting it apart from other meme coins. $MEDA is a deflationary token with a supply cap of 500 million, designed to promote long-term price growth. Some analysts predict that the price of $MEDA could increase by up to 50 times before the end of 2024 as the developers strive to achieve a market capitalization of over $1 billion.
Read also: Optimism (OP), SEI, and BlustUP (BLP) poised for a 20-fold increase in 2024
Milei Moneda aims to become one of the top altcoins on the market, combining the community engagement and fun associated with meme coins with practical utility. Investors can profit from $MEDA price movements and stake their tokens. The platform also plans to expand its offerings to include decentralized financial services in the future.
Save like Milei: Invest in $MEDA!
Uniswap takes steps to avoid SEC lawsuit
Martin Ammori, the chief legal officer at Uniswap, recently stated that the SEC would need to redefine the concept of an exchange in order to have a legal basis for taking action against the platform. He pointed out that stablecoins, Ethereum, and Bitcoin represent a significant portion of the trading volume on Uniswap, none of which are currently classified as securities. Ammori accused the SEC of overstepping its authority granted by Congress.
Solana’s price surges by 20% in the past week
Solana has emerged as one of the top DeFi projects, experiencing remarkable growth in 2023, and now seems to be on the brink of another bullish cycle. Its recent price increase is even more impressive considering the congestion issues it has faced on its blockchain in recent months.
Some analysts predict that if Solana manages to break the $200 support level in the coming weeks, its price could reach a new all-time high (ATH) in 2024.
Summary
Solana appears poised for significant growth, especially if Ethereum exchange-traded funds are approved, generating excitement in the cryptocurrency space. $MEDA is currently the most promising meme coin to invest in, with investors expected to earn 33% profits upon its launch on Uniswap and potential returns of up to 5,000% before the end of 2024.
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Disclaimer: The views and opinions expressed in this article, by the author or anyone mentioned, are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries the risk of financial loss.
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