UNI Drops 7.7% but Long-Term Outlook Stays Bullish
Key Takeaways
- The UNI price has dropped by 7.71% over the past 24 hours.
- Despite selling pressure from large investors, interest from spot traders remains high.
- Uniswap is currently the leading decentralized exchange (DEX) by Total Value Locked (TVL).
- Market sentiment shows signs of a potential recovery despite the price decline.
Uniswap Maintains Market Leadership Despite Price Drop
Uniswap (UNI), the native token of the decentralized protocol of the same name, experienced a significant price drop over the past 24 hours. The price fell by 7.71%, bringing the total weekly losses to 11.3%. Nevertheless, the network remains stable: Uniswap has maintained its position as the leading decentralized exchange (DEX), ahead of competitors like Raydium.
A key factor contributing to this is the increase in Total Value Locked (TVL)—the total value of assets deposited in the protocol. Within a single day, the TVL rose from USD 4.924 billion to USD 4.959 billion. In the same period, Raydium lost USD 52 million in TVL.
Large Investors Sell – Spot Traders Step In
Despite positive developments in platform activity, the price remains under pressure. Over the past three days, UNI tokens worth USD 219 million have been sold. Notably, large investors sold approximately 980,580 UNI—worth about USD 5.73 million—within the last 24 hours alone.
At the same time, spot traders—investors who buy and hold tokens directly—are showing strong buying interest. During this period, they acquired around 2.1 million UNI, valued at approximately USD 12.28 million. This demand has helped limit the price decline so far.
Futures Traders Still Betting on Price Increases
The futures market, where traders speculate on price movements, also presents an interesting picture: Despite the negative price trend, many traders continue to take long positions, betting on price increases. This led to losses of around USD 1.05 million for long traders. In comparison, short traders—those betting on falling prices—lost only USD 25,600.
An important indicator, the Open Interest Weighted Funding Rate, remains in positive territory at 0.0054%. This metric compares open positions with funding costs and indicates a bullish market sentiment—despite short-term setbacks.
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DEX Market Shows Long-Term Growth
Over the past four weeks, activity on decentralized exchanges has increased by 20%. Although the last 24 hours showed a slight decline, the longer-term trend remains positive. If investor interest in decentralized protocols like Uniswap continues, this could lead to a medium-term recovery in the UNI price.
Our Assessment
The current price decline in UNI is primarily due to macroeconomic market movements and profit-taking by large investors. At the same time, stable demand from spot traders and a positive trend in the DEX sector are evident. These factors suggest that UNI has medium-term recovery potential—provided that interest in decentralized financial solutions remains strong.
For you as an investor, this means: keep an eye on TVL developments, the behaviour of large investors, and market sentiment in the futures space. These indicators provide valuable insights into potential price movements.
Sources
- DeFiLlama
- IntoTheBlock
- Coinglass
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