Based

United

Uniswap

Toncoin

After a massive price surge in the past few days, today, June 6, 2024, the overall cryptocurrency market is experiencing a price drop. Amid this, Ethereum-based Uniswap (UNI) experienced a price drop of 4%, attributed to whale activity. According to the on-chain analytics firm Lookonchain, during Asian trading hours, a whale sold a massive 606,000 UNI tokens worth $7.08 million, causing the price to fall by 4%. Whale sold $7 mln worth of UNI tokens Lookonchain also added that this whale had previously withdrawn a massive 1.3 million UNI tokens worth $13.7 million from the world’s biggest cryptocurrency exchange at an average price of $10.54. However, at present, this whale holds a substantial 696,808 UNI tokens worth $7.46 million across different wallets. Overall, the whale has realized total profits of approximately $800,000. 
Since this morning, UNI has been stable while other cryptocurrencies have been experiencing a downside move. However, after this whale sold the massive 606,088 UNI tokens, the price suddenly fell from $11.25 to $10.64. 
Currently, UNI is trading near $10.68 and has experienced a 5% price drop in the last 24 hours. Over a longer period, after this recent fall, the token price has returned to its level from a week ago. In the last 30 days, UNI experienced a massive 40% upside move following the approval of the spot Ethereum ETF by the United States Securities and Exchange Commission. Despite this price fall, the 24-hour trading volume also dropped massively by 60%, indicating a lack of interest and confidence among investors and traders in the UNI token. Uniswap technical analysis and key levels&nbsp; 
According to expert technical analysis, UNI appears bearish and may fall further. On the daily timeframe, UNI has formed a bearish double-top price action pattern, indicating a bearish signal. Based on price action and technical analysis, there is a high chance that the UNI price may touch the $8.5 level in the coming days. 
In addition to UNI’s price fall, other<a href="https://news.todayq.com/bitcoin-faces-summer-drought-trading-vol-to-drop-ahead/"> top cryptocurrencies</a> like Bitcoin (BTC), BNB (BNB), Solana (SOL), and Toncoin (TON) are struggling to gain momentum and have also experienced a price drop. Moreover, the trading volume of the overall cryptocurrency market has dropped by 11%.

Uniswap price falls 5% after Whale dumps $7 mln of UNI token: Report

Todayq News

Other articles published on Jun 6, 2024

Bitcoin’s low volatility will have THIS effect on BTC prices

Dora Factory Announces Historic $DORA Airdrop to Over 1 Million ATOM Stakers in Largest MACI Voti...

The Inflow Of Bitcoin ETF Sees A Significant Surge, Surpasses 250K!

Donald Trump Crypto Holdings Now Over $32 Million!

Roger Ver posts bail in Spain, faces extradition to the US

Can BNB Price Surge Any Higher Than This New ATH? Analysts Take

Join our free newsletter for daily crypto updates!