Uniswap Price Plunges 7.32% in Four Hours to $9.49

Uniswap's price took a sharp drop on September 23, plummeting 7.32% in just four hours to $9.49. The decline was significant enough that it liquidated long positions totaling $400,000 across major exchanges like Binance, Bybit, and OKX. Despite the substantial losses for long holders, short positions remained unaffected, with no liquidations reported.

The price drop was calculated from publicly traded UNI/USDT spot prices on Binance, where the latest reading showed Uniswap's value at $9.49. This decline came after a sharp move lower in the token's spot market, and marked a significant shift for Uniswap, which held 23rd place by market capitalization with a valuation of roughly $6.02144 billion.