Uniswap's price outperformed most cryptocurrencies on Monday, calling for a ban on Russian accounts as the crisis in Europe escalates. The UNI token is trading at $9.86, slightly above last week's low of $7.56.

The crisis in Russia and Ukraine

The prices of most cryptocurrencies fell sharply on Monday as market sentiment deteriorated. In fact, CNN's Fear and Greed Index fell to the fear zone of 33. Likewise, Bitcoin's Fear and Greed Index rose to extreme fear levels.

The performance of cryptocurrencies has matched the performance of global equities. On Monday, European indices such as the German DAX, CAC 40 and FTSE 100 fell more than 3%. The same was true for U.S. futures such as the Nasdaq 100 and S&P 500.

The price of Uniswap is rising as investors predict that regulators will begin to pay more attention to cryptocurrencies. Last week, Christine Lagarde of the European Central Bank (ECB) lobbied EU regulators to start paying attention to cryptocurrencies.

And now, several companies have begun blocking Russian sanctions targets. Cryptocurrency said in a statement Monday that it is blocking Russians who are subject to sanctions. Other exchanges such as Crypto.com and Kraken are expected to do the same.

In a statement, the Ukrainian president also called on companies in the industry to block Russian accounts in an attempt to put pressure on the government.

All these measures are positive for Uniswap and other decentralized companies, simply because of the way they operate. They don't use data from individuals and rely only on their wallets. In fact, the total value locked in Uniswap has increased to over $7.5 billion.

Uniswap Price Forecast

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The daily chart shows that the UNI price has been in a downtrend for the past few days. In the process, the token managed to fall slightly below the key support level of $13.6, which was the lowest level last July.

It also managed to break below the 25-day and 50-day moving averages, while the Smart Money Index (SMI) is in a downtrend.

As a result, Uniswap prices could continue to fall as the shorts set the next major support level at $7.