- The trading price of the UNI token has advanced by 91% in the last year.
- The yearly inflation rate of the crypto is negative.
Uniswap Protocol Token (UNI) is a governance token for Uniswap, a decentralized exchange on Ethereum. It allows holders to participate in governance decisions and potentially receive rewards. Created by the Uniswap team, UNI was launched in 2020 to decentralize the platform and engage the community in its development.
With an Onchain market cap of $11.83B, the spot market cap of the Uniswap token is $7.077B. This further has witnessed a decline of 2.76% in the last 24 hours. In the global cryptocurrency market, it is the 18th largest cryptocurrency.
The volume/market cap ratio of the crypto is 2.61% and the trading volume for the crypto has witnessed a decline of 20.3% in the last 24 hours. Moreover, the circulating supply of the crypto is 598.736M UNI which is 59% of the total supply.
The total supply and the maximum supply of the crypto are the same resulting in 1.0B UNI. This further results in a fully diluted market cap of $11.831B and the price of each token is $11.83 at the time of writing.
The supply inflation of the crypto is very low resulting in -21.45% and the market cap dominance of the crypto is 0.29%. The volatility of the crypto is very high resulting in 16.42%. The sentiment of the crypto is also bullish and the fear and greed index of the crypto is at 75 indicating greed.
Uniswap Token Derivatives Analysis
The derivatives trading volume for the Uniswap crypto has declined by 27.3% which results in $222.57M. The open interest of the crypto has further declined by 4.8% and the long/short ratio of the crypto is 0.9467.
Also, the long liquidation recorded for the crypto is worth $99.39K recorded in the last 24 hours. This is further followed by a short liquidation of $21.77K representing sellers dominance.
Uniswap Crypto Blockchain Data Overview
The market cap of the crypto is consistently advancing over the last few days following which the Fully diluted valuation of the crypto has also witnessed an advance.
Despite this, the total value locked for the crypto is static and is not witnessing any significant change. Also, the current TVL of the crypto is $5.715B and the market cap/TVL ratio of the crypto is 1.245.
The current token liquidity of the crypto is $52.41M and the active addresses for the token over the last 24 hours are 7K. The token has a treasury of $2K and the community has raised a total of $176M.
Social Dominance Vs Development Activity Vs Development Activity Contributors
The social dominance of the crypto has witnessed no significant change over the lst few days while the development activity of the crypto has witnessed a huge spike. This indicates significant activity in the crypto community.
The development activity contributors for the crypto have also advanced over the last few days while the most recent scenario indicates a decline.
UNI Crypto Technical Analysis
The UNI token price was trading inside a descending triangle pattern for a long time followed by the weekly timeframe. The price of the crypto further broke out above the pattern and surged by more than 150%.
The price of the crypto is currently taking a rest and retracing to lower levels before going ahead for another surge. If the price of the UNI crypto further surges above the last swing high, further higher levels in the crypto price might be seen.
UNI/USD Chart by TradingView.com
The EMAs on the daily chart of the UNI crypto are trading in a golden cross while the price has declined below the 20-day EMA and is trading between the 20-day and the 50-day EMA.
The MACD and the signal line are following a bullish trend as the lines are trading above the zero level. Despite this, the lines are trading in a bearish cross indicating that the crypto is in the retracement phase.
The RSI for the crypto has declined from the overbought zone to certain lows while it is again trying to rebound above the 50-level. The RSI is currently trading at the level of 48 and if it further advances above 50-level, an advance in the momentum of the crypto might be seen.
Summary
The UNI crypto, with a 91% yearly price increase, faces mixed indicators. While witnessing a recent decline, it holds a significant spot market cap. Despite a bearish retracement phase, technical analysis suggests a potential for further surges, supported by bullish signals like a golden cross and rising RSI, indicating a bullish outlook for UNI.
Technical Levels:
- Support levels: $8.100 and $10.300
- Resistance levels: $20.100 and $28.400
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.