Decentralized exchange Uniswap (UNI) has seen a price surge due to an upcoming vote on a new revenue-sharing mechanism with its community. The overall cryptocurrency market has recorded gains this week, with a total market capitalization of $2.56 trillion, reflecting a 0.5% increase as investors take advantage of mid-week lows.

Uniswap's price has risen, following Ethereum's (ETH) significant gains of over 22% last week, spurred by expectations of spot ETF approvals. UNI is now trading at $10.86, marking a 20% weekly increase, outperforming other top 20 cryptocurrencies by market cap. This sharp rise has boosted Uniswap's monthly growth to over 53%, although daily movements have remained relatively flat.

Uniswap's trading volumes have increased by 19%, accompanied by growth in on-chain activity due to new developments. Last week, Uniswap processed $20 billion in trades as decentralized finance (DeFi) protocols experienced an increase in assets under management (AUM).

The upcoming vote on the "fee switch" will allow Uniswap token holders to share in the platform's revenues. In preparation for the vote, Uniswap disclosed its financial details and plans to distribute rewards autonomously.

“Next Friday, May 31, the Uniswap Foundation will start the on-chain vote to upgrade the protocol. This change will let UNI token holders who have staked and delegated their tokens receive rewards. If you are a UNI holder who wants to vote on this proposal, you **must** delegate your UNI…”

Despite the positive outlook, some Uniswap users worry that the revenue-sharing mechanism could attract stricter regulations from the Securities and Exchange Commission (SEC).

The broader cryptocurrency market has also shown signs of recovery, rebounding from recent bearish trends. Bitcoin (BTC) and Ethereum have recorded gains of 0.75% and 1.24%, respectively, with Bitcoin trading at $68,643 and Ethereum at $3,816. Other cryptocurrencies, such as BNB and Solana (SOL), have also seen slight inflows, while meme coins have rallied on renewed market sentiment.

In summary, Uniswap's price surge and the upcoming revenue-sharing vote highlight the platform's ongoing growth and development. The wider cryptocurrency market is also experiencing a modest recovery, suggesting a potential upward trend in the near future.