Uniswap price stalls after 50% surge, rally cools

Uniswap's token (UNI) fell to $9.53 after briefly nearing $11 on Sept. 23, though it remains up 5.1% in 24 hours and over 50% for the week, raising questions about whether the rally has stalled. The surge was driven by CME Group's Sept. 22 announcement of regulated UNI futures launching Oct. 19, with open interest near $971 million showing growing leverage. Technical indicators remain bullish, with support at $9.39 and $9, while a daily close above $11 could target $12. Uniswap's fee mechanism, active since December 2025, permanently burns UNI tokens, and a governance vote through Sept. 23 considers expanding this to Circle's Arc network. The token rose from nearly $6 on Sept. 17, with $2.43 billion in 24-hour trading volume.