Uniswap Plunges 3.07% in One Hour Amid Ongoing Decline

Uniswap's price took a hit on September 28, dropping 3.07% in just one hour to $8.85 at 5:02 a.m. ET (09:02 UTC). This decline marked an extension of the token's already significant 24-hour loss, which now stands at 10.93%. The price movement from $9.13 on Binance's UNI/USDT spot market to $8.85 occurred within a short span of one hour.

The data collected by TokenPost indicates that long liquidations totaled $400,000 across Binance, Bybit, and OKX during the same hour. Conversely, there were no reported short liquidations. This suggests that leveraged long positions played a significant role in the price movement.

At present, Uniswap ranks 23rd by market capitalization with a value of approximately $5.51779 billion.