Uniswap Breakout: Whale Accumulation and Multichain Growth Fuel Price Rally
Uniswap has broken out of a multi-month descending trendline and is trading near $6.27, according to recent data.
The breakout was supported by a large whale accumulation of UNI worth $1.7 million at an average price of $5.76, which now finds itself in profit based on the current market price.
Uniswap's multichain deployment across 47 chains is also providing a fundamental catalyst for the price rally, with Robinhood Chain contributing roughly 66% of Uniswap's fees across that deployment.
The protocol's expansion is translating into economic activity, with sustained fee growth across multiple networks providing stronger evidence of its success in the decentralized exchange (DEX) market.
UNI now faces a major resistance band near $7, where a decisive breakout could extend the recovery toward $8 and the $10 psychological level.