What can Uniswap (UNI) investors expect? UNI price prediction!
Market Musing-g

What can Uniswap (UNI) investors expect? UNI price prediction!

1 Minuten
1 year ago

Uniswap (UNI) price has increased by 4% in the last 3 trading days. However, crypto investors are not certain about the bull momentum. Will bears cause another drop?

What can Uniswap (UNI) investors expect? UNI price prediction!

Inhaltsverzeichnis

  • Uniswap (UNI) has increased by 4% since the beginning of the week.
  • As hodlers transfer their tokens to more exchanges, sell orders continue to accumulate on top exchanges.
  • UNI will face significant resistance at $5.9.

Uniswap (UNI) price has increased by 4% in the last 3 trading days. However, crypto investors are not certain about the bull momentum. Will bears cause another drop?

When altcoin markets increased by 5% on April 26, Uniswap showed a bullish price increase. However, on-chain data shows that Uniswap hodlers are transferring their tokens to exchanges more and more. Could bears be setting up bull traps?

Uniswap Investors Are Sending UNI to Exchanges!

On-chain data shows that Uniswap investors have been transferring a significant portion of their tokens to exchanges in recent weeks. Glassnode’s Exchange Balance metric tracks the real-time balances of a token deposited into recognized exchange wallets.

When examining the graph below, it can be seen that the balances of UNI deposited into exchange wallets increased by 4.2 million tokens between April 2 and April 25. This corresponds to an 11% increase in tokens ready to be traded on the market.

Investors may aim to make short-term profits when they transfer their assets to exchanges. Therefore, with investors transferring such a large amount of tokens to exchanges in a short period of time, Uniswap may face selling pressure in the coming days.

0 people liked this article

Related Articles

Market Musing-g
Chainlink and GMX DAO Unite: Pioneering Decentralized Perpetual Exchanges with Advanced Oracle So...
GMX DAO partners with Chainlink to integrate new oracles for enhanced security and user experience. Chainlink’s low-latency oracles to provide real-time market data and effective frontrunning...
1 year ago
3 Minuten
Market Musing-g
Multichoice confirms Nigerians will pay more for DStv, GOtv subscription from May 1st
MultiChoice, the South African media conglomerate that operates DStv and GOtv, recently announced an increase in subscription rates…
1 year ago
7 Minuten
Marketing
Proving it works: Adshares develops web3 ad services
We've developed a web3-based ad network that allows for precise, wallet-targeted advertising, new formats utilizing the power of web3 and NFTs, and new tools for data collection.
1 year ago
4 Minuten
Market Musing-g
Web3, Metaverse, Cryptocurrency, Gaming, and DeFi Take Center Stage at Upcoming Innovation Startu...
Dubai, UAE – The upcoming Innovation Startups Exhibition & Summit is set to take place on the 3rd and 4th of May at the DIFC Innovation Hub in Dubai. The two-day event will focus on the latest ...
1 year ago
2 Minuten
Market Musing-g
Investors Flood Sparklo (SPRK) As Polkadot (DOT) And Enjin Coin (ENJ) Plummet
As per the recent updates on the cryptocurrency market, analysts have identified Sparklo (SPRK) as a promising investment option. Besides, Polkadot (DOT) And Enjin Coin (ENJ) have succumbed to bear...
1 year ago
3 Minuten
Market Musing-g
FCA Speaks on Digital Asset Regulation in the UK
The UK Financial Conduct Authority (FCA) recently spoke on the regulation of digital assets in the country. The FCA’s executive director, Sheldon Mills, delivered a speech highlighting the re...
1 year ago
3 Minuten