The post UNI Price Takes a Dip Amid Significant Outflows: Is It Time for a Strong Accumulation? appeared on BitcoinEthereumNews.com.

In the last 11 days, the decentralized exchange token, $UNI, has experienced outflows that have caught the attention of institutional investors and resulted in a price downturn. Approximately 7.33 million tokens worth around $63.18 million have been sent from Galaxy Digital, a no-small-fish in the cryptocurrency investment world, to major exchanges like Binance and OKX. While that’s quite a bit of sending, it’s also important to note that the price of $UNI has fallen in tandem—down from the $9.50 range to as low as $7.10—with only a tepid uptick from exchanges like Binance in terms of refunding $UNI to the exchange’s customers. Understanding the Outflows: Galaxy Digital’s Move and Market Impacts Moving 7.33 million $UNI tokens from Galaxy Digital to exchanges has raised some eyebrows and with good reason. Galaxy Digital is very well connected to the crypto world, to the point where most of the moves it makes tend to influence the market quite a bit. It just so happened that on November 6, 2023, Galaxy decided that it was time to move a massive amount of $UNI to places like Binance and OKX. Making this move during a time of high selling pressure for the overall crypto market—and for the $UNI token in particular—also leads to another reasonable question: Why now? The outflow from Binance, one of the major cryptocurrency exchanges, was substantial. Nevertheless, Binance did not see a large amount of $UNI being withdrawn, which could set up a bullish case for $UNI. If there are not significant amounts of $UNI being taken off of exchanges, that could mean that holders do not intend to sell in the short term. However, these events that have taken place in conjunction have cast a slight shadow over the sentiment of $UNI. In this period, the token’s value has significantly…

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Filed under: News - @ March 4, 2025 1:24 pm