Large Uniswap Holders Awaken, Accumulate Nearly $75,000,000 in UNI in About Two Weeks: Analytics Firm Santiment

Large Uniswap (UNI) holders are heavily accumulating the crypto asset, according to the analytics firm Santiment. Santiment notes that addresses holding between 10,000 and one million Uniswap have added 10.74 million more UNI to their holdings from July 8th to July 24th, a trove representing 1.1% of the asset's total supply.

Timeline of Uniswap

The Uniswap (UNI) price resonated between the $7.5 and $6.6 barriers for the past two weeks, indicating uncertainty among market traders. This consolidation was meant to show sustainability above the $6.6 flipped support.

With the month so far marked by a bullish correction in the general cryptocurrency market, the big whales holding the UNI token have ramped up accumulation. According to data from Santiment, Since 8 July, wallet addresses holding between 10,000 and one million UNI have collectively added 10.74 million more UNI tokens to their crypto holdings.

Uniswap price analysis reveals that the market is following a dormant trend below the $7.5 mark and is likely to remain there. The prices opened at $7.41 and have been consolidating below the $6.9 mark since then.

The recent crypto credit crisis has shown the resilience of DeFi protocols as opposed to centralized lenders. Among those is Uniswap which has managed to stay afloat in these intense market conditions.

Uniswap [UNI], the automated liquidity provider, looks to be reaching for the stars in its NFT invasion. About a month ago, it announced that it had acquired Genie, the NFT marketplace aggregator.

Uniswap price analysis shows a bearish trend that has brought the UNI/USD value down to $6.75. The market had a breakout to the upside that found resistance at $7.44, which has caused the market to roll over and head back down.

Since June 23, the price of Uniswap (UNI) has regained upside momentum as the cryptocurrency trades in the bullish trend zone. Today, UNI is trading at $7.04 at press time. Last week, the uptrend stalled below the $8.00 resistance zone.

Ruben has more than a decade of experience at big tech and crypto companies.  The post Former Coinbase and Instagram director Will Ruben joins Uniswap as VP of product appeared first on The Block.

Uniswap price analysis continues to show a bullish reading, as price rose more than 5 percent over the past 24 hours to reach as high as $7.63. UNI has been on an extended uptrend since July 13, 2022, when price was at $5.26.

Trading volume on decentralized exchange (DEX) Uniswap (CRYPTO: UNI) nearly equals that of Coinbase Global Inc (NASDAQ: COIN). What Happened: A Monday report from crypto market data provider Kaiko detailed how Uniswap's market share of volume relative to Coinbase has surged from 27% to nearly 50% since January.