UNI Price Slumps 3.35% Amid Profit-Taking and Exchange Reserves Build-Up
Uniswap's (UNI) price took a hit of 3.35% over the last four hours, attributed to profit-taking after a sharp rally and rising exchange reserves.
The recent rally was driven by clear bullish catalysts, including the CME Group announcement that it will list UNI futures on October 19, which pushed UNI up about 11-12% on the announcement day. Additionally, the 'UNification' fee-and-burn mechanism and strong Uniswap v4 / UniswapX adoption have linked protocol activity more directly to UNI value.
Record UNI exchange reserves, particularly on Binance, have reached an all-time high of about 113.9 million tokens, with balances rising in stages since early 2024 and jumping from around 100 million in August. This has increased available sell-side liquidity just as profit-taking becomes attractive.