Uniswap Bleeds 20%—Is This Whale Behind The Drop?
Summary
Uniswap experienced a weekly loss of over 20%, with its native token UNI dropping to $5.80, primarily due to a large investor transferring 2.25 million UNI tokens to Kraken. This move is seen as an attempt to cut losses after the investor's unrealized profit decreased from $26.5 million to $1.86 million. Analysts noted increased selling pressure, with metrics indicating a surge in tokens moving into exchange wallets and a 2.67% rise in supply on exchanges, suggesting declining confidence in Uniswap's performance. Technical indicators show a bearish sentiment, with UNI's price near the lower Bollinger Band, reinforcing expectations of further declines.
