Crypto News
- Deposits from Galaxy Digital indicate a possible shift in the market, yet they also raise worries about price stability.
- UNI is currently at a crucial demand level, with rapid liquidations hinting at short-term bullish sentiment.
Recently, Galaxy Digital has made headlines by transferring 600K Uniswap [UNI] tokens worth $4.37M to Binance and OKX.
This move is part of a broader strategy, with a total of 5.26 million UNI tokens valued at $40.6M deposited over the last week.
Such significant transactions can greatly influence market sentiment since whales typically have the power to drive price changes.
consequently, traders are pondering whether this whale activity indicates an upcoming rally or if it’s merely the precursor to further declines for
Uniswap [UNI].
Crypto NewsWhat does the in/out of cash analysis suggest for Uniswap?
Currently, around 19.49% of Uniswap holders are considered“in the money,”,which translates to approximately194.9 million UNI tokens.
Conversely , a significantly larger portion —74 .35 %—is “out of the money,” indicating that most Uniswap holders are presently experiencing losses .
This high concentration of underwater positions could play an essential role in UNI’s future price movements . If UNI’s value increases , many holders might break even , potentially leading to selling pressure .
Source:
IntoTheBlock
C rypto N ewsU NI ’ s price action : Consolidation or collapse ?
U niswap has been experiencing downward trends recently , now testing an crucial demand zone near $7.50 . This represents a critical point where UNI may either bounce back or fall below this demand area ,which could indicate further weakness .
At present time , U NI was trading at $7.52 , showing a slight increase of1.4 % overthe past24 hours . However , with RSI standingat37.63 there exists potential for recovery if support within this demand zone remains intact .
Traders will needto monitor closely whether U niswap can holdthis levelorif abreakdown beneaththe demandzoneis likelyto occur.
