![Will Uniswap [UNI] be a dark horse post-Bitcoin halving?](https://coininsights.com/wp-content/uploads/2024/04/uni-sentiment-and-mvrv-ratio.png)
- An increase in exchange withdrawal and a negative MVRV ratio suggested a potential UNI rally.
- The project’s TVL increased, indicating that traders had recovered from the earlier FUD.
If the recent action of a whale is anything to go by, Uniswap [UNI] could be set for a big rally in the coming weeks. According to Spot On Chain, a whale withdrew his UNI holdings from Binance for the first time.
The total tokens were 121,871, valued at $954,000. Withdrawing the tokens from the exchange implied that the participant does not plan to sell anytime soon.
For the price action, this was a bullish signal. A few weeks ago, UNI was subject to a massive nosedive after the U.S. SEC publicly revealed that it might sue Uniswap Labs, the firm behind the development of the token.
This news caused Fear, Uncertainty, and Doubt (FUD) around the token. Besides that, UNI’s price plunged to $5.86.
However, in the last seven days, the value of the cryptocurrency has increased by 8.31% while changing hands at $7.81.
DeFi’s time to shine?
But one other thing AMBCrypto noticed was that the whale also removed his Compound [COMP] tokens from Binance [BNB].
A scenario like this suggests that it could be possible that DeFi tokens, not UNI alone, might jump.
Unlike the last bull market, DeFi has not been one of the top narratives this cycle. Instead, meme coins, Real World Assets (RWAs), and AI tokens have been dominating.
Will the recent development change the state of things? Well, we checked the possibility by looking at the sentiment around UNI.
As of this writing, Uniswap’s Weighted Sentiment had dropped to the negative zone. This decline implied that most comments about the project were more gloomy than they were enthusiastic.
Typically, the state of the metric is supposed to imply that UNI might lack demand. But a look at the Market Value to Realized Value (MVRV) ratio suggested otherwise.
Source: Santiment
At press time, the 30-day MVRV ratio was -10.01%. This means that if every UNI holder sells at press time price, the average return would be a 10% loss.
UNI regains trust
But that is not something most holders would do. As such, a buying opportunity could exist between $6.50 and $8. If buying pressure increases, UNI’s price might rally back to double-digit numbers.
Furthermore, a forthcoming altcoin season might also help its prices, as targets between $15 and $20 could be possible.
AMBCrypto got further evidence that Uniswap was recovering from the FUD from its Total Value Locked (TVL).
Realistic to not, here’s UNI’s market cap in BTC’s terms
According to DeFiLlama, the TVL had increased by 138% in the last 30 days. This increase was a sign that participants perceived the protocol to be trustworthy.
Source: Santiment
Hence, the value of assets staked and locked in surged. Should this TVL continue to rise toward 2021 levels like it has shown in the last few weeks, UNI’s price might also get close to its all-time high.
- An increase in exchange withdrawal and a negative MVRV ratio suggested a potential UNI rally.
- The project’s TVL increased, indicating that traders had recovered from the earlier FUD.
If the recent action of a whale is anything to go by, Uniswap [UNI] could be set for a big rally in the coming weeks. According to Spot On Chain, a whale withdrew his UNI holdings from Binance for the first time.
The total tokens were 121,871, valued at $954,000. Withdrawing the tokens from the exchange implied that the participant does not plan to sell anytime soon.
For the price action, this was a bullish signal. A few weeks ago, UNI was subject to a massive nosedive after the U.S. SEC publicly revealed that it might sue Uniswap Labs, the firm behind the development of the token.
This news caused Fear, Uncertainty, and Doubt (FUD) around the token. Besides that, UNI’s price plunged to $5.86.
However, in the last seven days, the value of the cryptocurrency has increased by 8.31% while changing hands at $7.81.
DeFi’s time to shine?
But one other thing AMBCrypto noticed was that the whale also removed his Compound [COMP] tokens from Binance [BNB].
A scenario like this suggests that it could be possible that DeFi tokens, not UNI alone, might jump.
Unlike the last bull market, DeFi has not been one of the top narratives this cycle. Instead, meme coins, Real World Assets (RWAs), and AI tokens have been dominating.
Will the recent development change the state of things? Well, we checked the possibility by looking at the sentiment around UNI.
As of this writing, Uniswap’s Weighted Sentiment had dropped to the negative zone. This decline implied that most comments about the project were more gloomy than they were enthusiastic.
Typically, the state of the metric is supposed to imply that UNI might lack demand. But a look at the Market Value to Realized Value (MVRV) ratio suggested otherwise.
Source: Santiment
At press time, the 30-day MVRV ratio was -10.01%. This means that if every UNI holder sells at press time price, the average return would be a 10% loss.
UNI regains trust
But that is not something most holders would do. As such, a buying opportunity could exist between $6.50 and $8. If buying pressure increases, UNI’s price might rally back to double-digit numbers.
Furthermore, a forthcoming altcoin season might also help its prices, as targets between $15 and $20 could be possible.
AMBCrypto got further evidence that Uniswap was recovering from the FUD from its Total Value Locked (TVL).
Realistic to not, here’s UNI’s market cap in BTC’s terms
According to DeFiLlama, the TVL had increased by 138% in the last 30 days. This increase was a sign that participants perceived the protocol to be trustworthy.
Source: Santiment
Hence, the value of assets staked and locked in surged. Should this TVL continue to rise toward 2021 levels like it has shown in the last few weeks, UNI’s price might also get close to its all-time high.
cost cheap clomid without rx order generic clomid online cost of clomid for men clomid tablets uses in urdu order clomiphene prices cheap clomid without a prescription how to buy generic clomid without dr prescription
This website absolutely has all of the bumf and facts I needed there this case and didn’t comprehend who to ask.
This is the big-hearted of literature I truly appreciate.
purchase azithromycin pills – tinidazole 300mg canada buy metronidazole for sale
semaglutide 14mg cheap – order semaglutide online periactin 4 mg without prescription
brand inderal 10mg – inderal 10mg usa order methotrexate online
zithromax where to buy – buy tinidazole paypal where can i buy nebivolol
buy augmentin 1000mg for sale – atbioinfo how to buy acillin
buy nexium pills for sale – https://anexamate.com/ buy esomeprazole no prescription
purchase coumadin generic – anticoagulant oral losartan
order mobic 7.5mg generic – swelling buy meloxicam tablets
purchase prednisone pills – aprep lson deltasone 20mg cost
free ed pills – fastedtotake buy cheap generic ed pills
buy amoxil without a prescription – combamoxi.com cheap amoxil generic
diflucan 200mg oral – buy forcan medication buy diflucan 200mg online cheap
buy generic cenforce online – https://cenforcers.com/ buy cenforce paypal
where to buy generic cialis – https://ciltadgn.com/ buy cialis overnight shipping
when will cialis be over the counter – buy cialis no prescription australia cialis super active plus reviews
zantac pill – https://aranitidine.com/ ranitidine usa
viagra 50mg price walmart – sildenafil citrate 100 viagra buy tesco
The thoroughness in this piece is noteworthy. prednisolona nombre comercial
I’ll certainly bring back to review more. natural alternatives to prednisone
I’ll certainly bring to review more. https://ursxdol.com/get-metformin-pills/
This website really has all of the tidings and facts I needed about this subject and didn’t comprehend who to ask. https://prohnrg.com/product/priligy-dapoxetine-pills/
Thanks towards putting this up. It’s understandably done. https://aranitidine.com/fr/sibelium/
Facts blog you procure here.. It’s intricate to on strong quality writing like yours these days. I truly comprehend individuals like you! Take vigilance!! https://ondactone.com/product/domperidone/
This is the description of glad I get high on reading.
can i buy generic tetracycline without rx
This is a topic which is virtually to my fundamentals… Diverse thanks! Unerringly where can I upon the acquaintance details in the course of questions? http://pokemonforever.com/User-Jjnymj
dapagliflozin usa – site dapagliflozin 10mg pill
where can i buy orlistat – https://asacostat.com/# buy cheap generic xenical