Uniswap (UNI) Poised for Rally Post-Bitcoin Halving, Signals DeFi Boom

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In Brief

Uniswap (UNI) could perform surprisingly strong after the next Bitcoin halving. Recent on-chain data suggests that UNI could play a leading role in a potentially upcoming DeFi season. A significant increase in exchange withdrawal and a negative MVRV ratio signal a potential rally for UNI. Moreover, the total assets locked in Uniswap have increased, indicating a regained trust from traders.

UNI: A Potential Market Leader After the Bitcoin Halving?

A recent event, in which a whale withdrew substantial amounts of UNI tokens from the Binance exchange, aroused the interest of market observers. This behaviour suggests that the whale does not plan to sell its UNI holdings in the near future, which can be interpreted as a bullish signal for the price of UNI. Despite previous uncertainties and a price drop due to legal concerns by the US SEC, UNI has experienced a value increase of 8.31% in the last seven days and is currently traded at $7.81.

DeFi Could Be in the Spotlight

The fact that the aforementioned whale also withdrew Compound (COMP) tokens from Binance suggests that not only UNI, but the entire DeFi sector could experience an appreciation. This contrasts with the last bull markets, in which DeFi was not the focus. However, the current developments could bring about a rethink in the perception and valuation of DeFi tokens.

UNI Regains Trust

Another positive indicator for UNI is the increase in total assets locked in Uniswap (TVL) by 138% in the last 30 days. This shows that trust in the protocol is being restored and more assets are being invested in the protocol. Should this trend continue, the price of UNI could approach its historical highs.

Our Assessment

Given recent developments and data, UNI could indeed become an unexpected frontrunner after the next Bitcoin halving. The signs of an impending DeFi season, coupled with regained trust in Uniswap, provide positive signals for investors. While the market always remains unpredictable, the current trends offer an interesting perspective for those who are invested or plan to invest in DeFi and specifically in UNI.

Sources: AMBCrypto, DeFiLlama, Santiment

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