##Coinbase Pro lists Uniswap token hours after $1,500 airdrop

 

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The regulated US exchange was quick to list UNI after Uniswap surprised users with an airdrop on Thursday morning.

US crypto exchange Coinbase said it would soon list UNI, the native token of decentralized exchange Uniswap, on its professional trading platform Coinbase Pro, per an announcement earlier today. The famed “Coinbase pump” followed shortly after, causing UNI to surge by 22% to $4 at press time.

Only inbound transfers are currently accepted on Coinbase Pro. Trading is expected to begin later in the day after sufficient “liquidity conditions” are met—to prevent a one-sided market or large UNI holders from manipulating the market.

But the listing didn’t happen out of nowhere. Coinbase is an investor in Universal Navigation Inc, the parent company and developer of Uniswap, and holds UNI tokens. The exchange said, “Coinbase intends to maintain its investment in UNI for the foreseeable future and maintains internal policies that address the timing of permissible disposition of its digital assets, including UNI tokens.”

The move came hours after Uniswap airdropped its tokens to everyone who used its platform prior to September 1. This included liquidity providers, casual traders, and even those who tried transacting on the network but failed to do so because of high gas fees. A minimum of 400 UNI was airdropped regardless.

As per data on crypto price tracker CoinGecko, the 400 UNI airdrop was currently worth over $1,500 at press time, a few hundred dollars more than what US citizens received as part of their stimulus package earlier this year.

Coinbase has listed several DeFi tokens in recent weeks, such as yearn.finance, Loopring, and others, to provide users with a wider range of cryptocurrencies. It looks like that trend will continue.

##Ethereum long positions on Bitfinex soar to $510M as uptrend builds Momentum

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Ethereum’s price has been caught within the throes of an intense uptrend throughout the past few days, surging from its recent low of $230 to a high of $285 that was set earlier today.

The cryptocurrency’s intense strength is creating a tailwind that has even allowed Bitcoin to climb higher, with the benchmark cryptocurrency now pushing up towards $9,600.

One byproduct of the crypto’s strength has been a massive influx of long positions on Bitfinex.

Earlier today, the notional long count on the platform rocketed to fresh highs, with there now being over $510 million worth of open ETH longs.

From a technical perspective, Ethereum’s outlook is incredibly strong.

Analysts are closely watching the cryptocurrency’s weekly close for insights into where it might trend in the weeks ahead.

Ethereum rallies past $280 as technical outlook grows bright

At the time of writing, Ethereum is trading up over three percent at its current price of $283.25.

This marks a notable climb from its weekly low of $233 that was set on July 19th.

ETH’s overt strength throughout the past few weeks has allowed it to significantly outperform Bitcoin, even creating a tailwind that has lifted the benchmark crypto higher.

The over 20 percent climb it has posted this week has caused it to form a strong market structure.

While looking towards its weekly chart, one analyst who goes by the moniker “Cactus” noted that ETH is “super healthy” at the moment, remaining in firm bull territory as long as it trades above $250.

“ETH HTF Update: Market structure playing out perfectly, will not be bearish unless we close a daily or a weekly candle below $250, seems as though PA is looking super healthy right now!”