- Uniswap experiences a notable drop in high-value transactions.
- Indicators point to a possible ongoing bullish trend.
Uniswap [UNI] has observed a significant decline in large transactions, yet market sentiment remains relatively positive. A substantial percentage of holding addresses has increased alongside a rise in daily active addresses.
Although there has been a 64% decrease in large trades, the growth in active addresses coupled with a favorable ratio of holding addresses implies that there is still room for upward momentum.
Uniswap experiences a major dip but not a collapse
Uniswap has seen a sharp 64% fall in large transactions. This significant reduction in high-volume trades could indicate that large investors are becoming more cautious or moving to alternative platforms.
However, this downturn does not accurately portray the overall condition of the DEX. The Uniswap ecosystem still exhibits resilience despite this drop.
Source: IntoTheBlock
Increasing bullish momentum without haste
Although large transactions have diminished, Uniswap’s price trend appears bullish. The token has shown upward movement on the charts, suggesting a positive shift in market sentiment.
Market participants are beginning to notice the bullish setup in Uniswap, which may lead to further price action in the future.
Source: Tradingview
Uniswap’s daily growth reflects market dynamics
In the past 24 hours, Uniswap has seen a 2% increase in active daily addresses. This growth in active addresses indicates elevated user engagement.
This trend signifies deeper market involvement with the exchange.
As user activity continues to expand, there will likely be increased liquidity that can potentially support upward price movements.
Source: IntoTheBlock
Profitability of holding addresses boosts confidence
Currently, 44% of holding addresses are in profit, which enhances market optimism for Uniswap.
This level of profitability indicates a strong position for numerous Uniswap holders, which may bolster confidence in the token’s long-term prospects.
Considering the current setup and the ongoing bullish momentum, these factors suggest potential further upward movements.
Source: IntoTheBlock
Is your portfolio in the green? Check out the UNI Profit Calculator
While large transactions on Uniswap are falling, this does not eliminate a bullish perspective.
In fact, the rise in daily active addresses and a significant proportion of holders in profit indicate that Uniswap’s bullish rally may still be on the horizon.
