- The price of the Uniswap is outperformed by Bitcoin.
- UNI crypto has high liquidity based on its market cap.
Uniswap Protocol Token (UNI) is a governance token for Uniswap, a decentralized exchange on Ethereum. Launched in September 2020, UNI empowers community governance, enabling holders to propose and vote on protocol changes.
Created by the Uniswap team, including founder Hayden Adams, it aligns stakeholders’ interests and facilitates liquidity mining rewards.
The Total Value Locked for the UNI crypto is $6.218B, and the token liquidity is worth $52.41M. Also, the annualized fee of the token is $1.649B, and it currently has 9K active addresses. The crypto treasury is worth $2.4K, and the total amount raised by the crypto is worth $176M.
The market cap of the crypto further has declined by 2.4% in the last 24 hours, and the traded volume of the crypto has also witnessed a decline of 2.7%. This further results in a traded value of $141.658M.
Uniswap is the 21st largest cryptocurrency in the global crypto market. It has a market cap of $6.688B, and the crypto market cap dominance is 0.26%. It also has a fully diluted market cap of $11.158B.
The circulating supply of the crypto is 59.8% of the maximum supply, resulting in 598.736M UNI. The total and the maximum supply of the Uniswap token is similar, resulting in 1.0B UNI.
The trading price of the crypto is also highly volatile, resulting in 7.93%, and the sentiment of the crypto is bullish. Moreover, the fear and greed index of the crypto is at 78, indicating extreme greed.
Uniswap Crypto Derivatives Trading Volume
Uniswap has witnessed a long liquidation of $236.77K, much higher than the short liquidation of $32.3K. Also, the long/short ratio of the Uniswap crypto is 0.9619.
The trading volume of the crypto derivatives has further witnessed a slight increase of 6.2%, which has resulted in a traded value of $168.01M. The open interest in crypto has seen a slight increase of 1.2%, resulting in $144.8M.
Social Dominance Vs Twitter Followers For Uniswap
The social dominance of crypto has declined from the higher levels, and the number of Twitter followers has also declined over the last few days, representing a lack of interest of ordinary people in crypto.
UNI Crypto Technical Analysis
The price of the UNI crypto is traded inside a symmetric triangle pattern, and one must wait for the price of the crypto to break in either direction. Despite this, if we look at the overall cost structure, it is following a strong uptrend and has advanced to specific highs.
UNI/USD Chart by TradingView
The UNI token price has declined below the 20-day and the 50-day EMAs while the price is trading above the 200-day EMA, followed by a golden cross of the 50-day and the 200-day EMA. This shows that the overall trend of the crypto price is bullish, while the cost of the crypto might be facing temporary retracement.
The MACD depicts a bearish outlook as the MACD and the signal line have declined below the zero level. Also, the given metrics of the crypto are trading in a bearish cross.
The RSI is also showing weakness in the crypto momentum as it has declined below the 50 level and is currently trading at a level of 43.06. It has also declined below the 14-day SMA.
Summary
Uniswap’s UNI token faces uncertainty as trading volume and social dominance decline. While it boasts high liquidity and bullish sentiment, recent price movements suggest a symmetric triangle pattern, indicating uncertainty about future direction. Despite a bullish trend, technical indicators like MACD and RSI signal potential bearish pressure and temporary retracement.
Technical Levels:
- Support levels: $5.620 and $7.310
- Resistance levels: $13.240 and $15.690
Disclaimer
This article is for informational purposes only and provides no 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.