Crypto
Uniswap Whales Stock Up Amid Price Drop
Despite Uniswap's (UNI) price drop from $7.48 to around $6.02, exchange reserves decreased by nearly 12%, indicating that tokens are being withdrawn from exchanges.
A large Uniswap holder accumulated $2.35 million worth of tokens over five days during this correction, signaling strong underlying demand.
Top Binance traders also hold a strong long position, suggesting confidence in a price rebound.
UNI may test key Fibonacci support levels near $4.71, $4.82 before attempting to recover toward $7.48.