Uniswap price rallies 117% amid governance proposal introducing UNI buybacks

Uniswap's price surged by 117% following a governance proposal that could lead to $38 million in monthly UNI buybacks. This rally marks a significant shift after a prolonged downtrend, indicating potential bullish momentum for the cryptocurrency. The proposal has generated excitement among investors, suggesting a renewed interest in Uniswap and its governance strategies. The implications of such buybacks could enhance the value of UNI tokens, making this development noteworthy for the cryptocurrency market.