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Uniswap Bleeds 22%—Is This Whale Behind the Drop? | Global News Avenue

Uniswap Bleeds 22%—Is This Whale Behind the Drop?

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The loss of one crypto exchange is the gain of another. The weekly loss of cryptocurrency exchange UNISWAP is over 20%, which is correct for large investors to unload a large number of tokens.

The above whales transferred 2.25 million Uni Analysts believe the cost of tokens trying to reduce losses on cryptocurrency exchange platforms.

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Uniswap reduction

UniSwap’s Aboriginal Token Uni lost 20% per week in the past 24 hours, analysts said. The huge loss has brought the Uni price down to $5.80 at $5.80.

According to a crypto analyst, the drop can be attributed to a large investor who offloaded most of the Uni token and transferred it to another cryptocurrency exchange platform in a situation where sales pressures have increased.

“One whale puts all $2.25 million UNI ($137.1 billion) of whales 2 hours ago,” LookonChain said.

“Cut losses”

In the post, Lookonchain It is believed that whales may work to “reduce losses” as substantial gains disappear from Uni tokens.

LookonChain shared: “Whales have accumulated $2.25 million in Uni ($157,000) with an average price of $6.92, between September 7, 2023 and November 18, 2024.”

Market observers said the profits of large investors did not realize $26.5 million. However, recent market conditions have left Uni’s unrealized revenue at just $1.86 million, which may be the main reason why Whales decided to move the $13.71 million Uni token to Kraken.

Bearish Signal

Another crypto analyst observed that the indicator showed bearish pictures of a single vehicle. Santiment shared his analysis of UNISWAP future using chain metrics, saying the exchange traffic balance increased from -428,920 to 2.23 million in two days.

UNI currently trades at $5.8. chart: TradingView

This metric tracks the net movement of tokens entering and leaving the exchange wallet, indicating that sales pressure may surge, indicating that many tokens are being transferred to the exchange wallet.

Another indicator, the supply of communication, description of token Increase Over the past 24 hours, analysts claimed that traders’ concepts have increased by 2.67% amid a decline in confidence in UNISWAP performance.

Previous data suggest that this trend often leads to further decline in token prices.

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Other market observers examined UNI’s technical metrics, revealing negative sentiment towards Uniswap’s local token. The Brynn shows that the middle band tightened to $7.470. Meanwhile, the upper and lower bands are $9.332 and $5.608 respectively.

Analysts say Uni’s price is on the lower band, indicating a strong bearish momentum, which could explain the token’s unrealized profit drop.

Featured images from Medium, charts for TradingView

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