Edward Snowden Lambasts Solana over Venture Capital Influence, Calls for Decentralization

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Nov 12 2024

UNI-0.717%

SOL-1.903%

Should l Buy UNI?

Snowden's Views on Decentralization: Edward Snowden emphasized the importance of decentralization in protecting against surveillance during his speech at Near’s Redacted conference, critiquing Solana's heavy reliance on venture capital which he believes could compromise its independence.
Advocacy for Open-Source Solutions: Snowden advocated for open-source models as a means to challenge centralization and enhance user engagement with blockchain technologies, urging individuals to adopt these tools to maintain autonomy in an increasingly centralized environment.

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Technical Analysis for UNI

Technical Sentiment Analysis for Uniswap (UNI) As of , Uniswap (UNI) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for UNI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, UNI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Uniswap (UNI) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	1.438	2.141	2.9	3.603	4.362	5.065	5.824
Fibonacci	2.141	2.7	3.045	3.603	4.162	4.507	5.065

About UNI

Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance (DeFi) tokens.An example of an automated market maker (AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading.Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges.Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges.In September 2020, Uniswap went a step further by creating and awarding its own governance token, UNI, to past users of the protocol. This added both profitability potential and the ability for users to shape its future — an attractive aspect of decentralized entities.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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