- The trading price of the UNI crypto has declined by 35% from the most recent swing high.
- Uniswap has outperformed 50% of the top 100 crypto assets last year.
Uniswap Protocol Token (UNI) is a governance token for Uniswap, a decentralized exchange protocol on Ethereum, enabling community participation in platform decisions.
Created in September 2020 by the Uniswap team, led by founder Hayden Adams, UNI facilitates governance, rewards, and aligns stakeholder interests in the decentralized finance ecosystem.
The current volume/market cap ratio of the Uniswap crypto is 3.7%, and the total value locked for the crypto is worth $5.397B. The crypto’s current market cap/TVL ratio is 1.2042, followed by a market cap value of $6.377B.
Furthermore, the cryptocurrency’s market cap has declined by 12.8% in the last 24 hours, while the trading volume has increased by 21.8%. The value of the traded volume in the previous 24 hours is $243.267M.
The market cap dominance of the Uniswap token is 0.26%, and the volatility of the crypto price is very high, which results in 20.48%. The sentiment of the crypto is also bullish.
The crypto was released on September 16, 2020, and hit an all-time high price of $44.93 on May 3, 2021. The token made an all-time low price of $1.766, recorded on November 5, 2020.
Uniswap is the 19th largest cryptocurrency in the global cryptocurrency market. The token liquidity of the crypto is $52.41M, and the number of active addresses for the crypto is 7.06K. Also, the total raised amount for the crypto is $176M.
Uniswap Token Supply Overview
With a current circulating supply of 598.736M UNI, the circulating supply market cap of the crypto is $8.223B. Also, the on-chain market cap of the crypto is $10.89B, and its maximum total supply is 1.0B UNI.
Uniswap Crypto Derivatives Analysis
Higher long liquidations are recorded in the Uniswap token derivatives, indicating profit booking in crypto.
Following the last 24 hours, the recorded long liquidation for the crypto is $1.53M against the short liquidation of $37.74K. The derivatives’ trading volume of the crypto has further advanced by 40.5%, resulting in $345.01M.
Total Number of Holders Vs Percentage of Stablecoins Held by Whales
While the total number of holders for the Uniswap token is slowly and consistently rising, the percentage of stablecoin total supply held by whales with more than $5 Million has witnessed a huge surge, indicating the gaining interest of whales in the crypto.
UNI Crypto Technical Analysis
The trading price of the UNI crypto broke above the descending triangle pattern, and then it surged by more than 170%.
From the recent swing highs, the trading price of the crypto has started to witness profit booking and is declining to lower levels.
UNI/USD Chart by TradingView.com
Although the 50-day and 200-day EMAs are trading in a golden cross, the trading price of the crypto has declined below the 50-day EMA. This price behavior shows the signs of profit booking in the crypto price.
The MACD indicator on the UNI token chart indicates weakness in the price as the signal line is trading above the MACD level. The histograms are also negative, formed on the charts.
Summary
The UNI crypto faces uncertainty after a 35% decline from recent highs. Despite outperforming many assets, its trading volume surged while its market cap dipped. Technical analysis suggests profit booking after a breakout, with MACD signaling weakness. Whales show increased interest, but price decline raises uncertainty about future trends.
Technical Levels:
- Support levels: $4.0 and $8.30
- Resistance levels: $20.10 and $28.40
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.