Published on 12 Apr 2024 on Motley Fool via Yahoo Finance
Why Uniswap Led a Crypto Crash This Week
The crypto market had a good week overall with Bitcoin and Ethereum rising by low-single-digit percentages until early morning on Friday. But at about 9 a.m. ET, the entire industry began to go into a tailspin.
According to data provided by S&P Global Market Intelligence, as of noon ET Friday, Dogecoin (CRYPTO: DOGE) was up by 9.5% over the past week but after a rapid decline of 10% in the last two hours, it's now down slightly for the week as of 3 p.m. ET. VeChain (CRYPTO: VET) was up 13.8%, only to fall by 10.6% in the past 24 hours and is now up just 3.2% for the week. Uniswap (CRYPTO: UNI) was hit hardest and is now down 31% for the week.