Uniswap [UNI] sees record surge in accumulation – Is a rally likely?
The post Uniswap [UNI] sees record surge in accumulation – Is a rally likely? appeared on BitcoinEthereumNews.com.
Uniswap saw over $54M withdrawn from exchanges in the first week of February Coinbase’s analysis suggests that new Uniswap V4 could take a while to gain massive traction On Tuesday, 4 February, Uniswap [UNI] saw a record daily accumulation of $25.16M. According to blockchain analytics firm IntoTheBlock, this was one of the highest buying sprees since 2021. Source: IntoTheBlock Over $54.6M UNI withdrawn this week The scoop on Tuesday was worth over 3.6 million UNI tokens. On the weekly front, a whopping $54.6M UNI tokens were withdrawn from several crypto exchanges. This means that investors, especially long-term investors, took advantage of the de-leveraging event earlier this week to grab discounted UNI below $7. Source: IntoTheBlock So, what about traders? Were they bullish too? AMBCrypto checked Hyblock’s Whale vs Retail Delta to gauge UNI’s demand by whale traders on the Futures market. After the recent dump, UNI’s price stabilized above $8. However, the stability has been met with fluctuating positions by whales on the Futures market. As per Hyblock, UNI’s Whale vs Retail Delta has been oscillating between green and red since February. A solid green would mean whale dominance and likely extended recovery for the DeFi token. Source: Hyblock That being said, the Ethereum-based DEX (decentralized exchange) launched a new version (Uniswap V4) with better capital efficiency and token swapping routes, across 12 chains. The new improvement has been enabled by the DEX’s revolutionary ‘hook’ architecture. For context, Uniswap V3 now holds +$3B in locked funds, while the new V4 has +$50M in one week after launch. However, Coinbase analysts believe that the new version might take a while before amassing significant funds and volume. They cited the need to test the security features of the latest version. “While a major step forward (Uniswao V4), we also think it will…
Filed under: News - @ February 9, 2025 3:06 am