in

Crypto Hot News Uniswap [UNI] may be plunging, but this metric is reaching a new ATH

Hot Crypto News Today Uniswap [UNI] may be plunging, but this metric is reaching a new ATH You Must Read To Get More Information For Trading and Investment.

Uniswap may have bragged about its protocol seizing almost half of Polygon’s market share in just three months, but it doesn’t change the fact that the UNI token is deep in red territory.

Far from a UNI-ted front

At press time, UNI was changing hands at $8.45, after slipping by 4.89% in the past day and falling by 7.01% in the last week. Adding on to that, UNI supply on exchanges was up at press time, and has been increasing since about mid-April. This can help explain why UNI’s price has been dropping in the same time frame.

Crypto Hot News Uniswap [UNI] may be plunging, but this metric is reaching a new ATH

On the other hand, there’s one piece of good news for risk-averse investors. According to the Bollinger Bands indicator, the bands are coming closer together, which signals less volatility – but a possible breakout in the near future. That being said, the most recent red candle broke through the lower band, indicating that the asset might be considered oversold. This could prompt some traders to buy the dip.

Crypto Hot News Uniswap [UNI] may be plunging, but this metric is reaching a new ATH

Life ain’t treating you “whale”

One thing that investors should be watching right now is how UNI whales have been making transactions worth more than $1 million, since about 21 April. Considering that UNI’s price was recovering slightly at press time, it’s worth waiting and watching to see whether whales are accumulating or profit-taking.

Crypto Hot News Uniswap [UNI] may be plunging, but this metric is reaching a new ATH

However, one sign that’s definitely positive is that development activity for Uniswap has been climbing sharply since about mid-January this year. Adding to that, April has seen the project achieving new all-time-highs in terms of development activity. This shows that despite UNI’s falling price, developers have steady faith in the project – which is rising by the day.

Crypto Hot News Uniswap [UNI] may be plunging, but this metric is reaching a new ATH

Let’s ETH you out of here

With UNI hitting the exchanges, investors might be surprised to learn that the opposite is happening with Ether [ETH], which saw close to $3.9 billion entering the exchanges while almost $5.3 billion exited. This led to net flows of approximately -$1.4 billion.

 

Read more Crypto Hot News here.
Watch free hot girl asia stock quality Photos on hotgirl.asia Crypto Hot News Uniswap [UNI] may be plunging, but this metric is reaching a new ATH

What do you think?

Written by thegamefi

Leave a Reply

Your email address will not be published.

GIPHY App Key not set. Please check settings

    Crypto Hot News Bitcoin Cash: With accumulation outstanding, is it BCH’s bulls karaoke time

    Crypto Hot News Axie Infinity: This new bullish divergence may trigger a near 75% upswing