A renowned decentralized exchange (DEX), Uniswap, has witnessed a considerable preference among traders for its UNI token, following a significant exploit that resulted in a 20% plunge in the price of the Curve Stablecoin Pools (CRV) token.
UNI perpetual futures are trading at a 20% premium, indicating traders’ belief in Uniswap gaining more market share after the exploit. Funding rates for UNI perpetual futures have surged to 19%, showing optimistic sentiment among traders.
Late Sunday, Curve Finance suffered a multi-million dollar exploit, leading traders to pivot towards Uniswap’s UNI token. Despite the attack, the perpetual futures market shows no signs of panic, with funding rates for CRV and AAVE markets remaining above zero.
While the exploit caused Curve Finance’s total value locked (TVL) to drop from $3.2 billion to $1.8 billion, Uniswap’s TVL has remained steady at around $3.8 billion, and AAVE’s TVL declined from $5.85 billion to $5.37 billion.
Traders appear confident in Uniswap’s potential growth, leading to a premium in UNI perpetual futures and making it a favored choice in the crypto market.
