{"id":545294,"date":"2023-08-01T08:36:30","date_gmt":"2023-08-01T08:36:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=545294"},"modified":"2024-06-12T09:18:09","modified_gmt":"2024-06-12T09:18:09","slug":"uniswap-uni-stays-afloat-with-11-gain-as-rest-of-top-50-coins-sink","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/uniswap-uni-stays-afloat-with-11-gain-as-rest-of-top-50-coins-sink\/","title":{"rendered":"Uniswap (UNI) Stays Afloat With 11% Gain As Rest Of Top 50 Coins Sink"},"content":{"rendered":"
Uniswap (UNI) has experienced a remarkable, bullish surge in its price amidst mounting sell-pressure on cryptocurrency exchanges. Bullish crypto traders have actively placed orders to buy 1.3 million UNI tokens, driving the price to $6.43, one of the highest levels in the past four months.\u00a0<\/span><\/p>\n CoinGecko data<\/span><\/a>\u00a0indicates that the token experienced a minor 0.08% slump in the past 24 hours but a notable seven-day rally of 11.4%.<\/span><\/p>\n Recent data compiled by Santiment also reveals a noteworthy and sudden surge in Uniswap’s Age Consumed, indicating significant movement of tokens in the last few days.<\/span><\/p>\n With the UNI token price soaring to a remarkable 4-month peak, investors are now contemplating the opportune moment to secure profits. The rapid surge in value has led some market participants to consider early profit-taking strategies.\u00a0<\/span><\/p>\n Investors and analysts closely examine on-chain data to understand better the market sentiment and the possibility of imminent sell-offs, focusing on a critical metric known as “Age Consumed.”\u00a0<\/span><\/p>\n Age Consumed represents the total number of days since each token unit was last moved. It provides valuable insights into the activity of long-term holders and short-term traders. <\/span><\/p>\n <\/p>\n A significant increase in Age Consumed indicates that tokens previously held for an extended period are now being moved, potentially suggesting profit-taking or a shift in investor sentiment.\u00a0<\/span><\/p>\n In the case of UNI, the\u00a0<\/span>Age Consumed skyrocketed<\/span><\/a>\u00a0from 11.66 million on July 22 to 292.71 million by the end of July 30. Such a surge in Age Consumed suggests a notable movement of previously dormant UNI tokens, raising questions about the intentions of long-term holders and the potential impact on the token’s price.<\/span><\/p>\n <\/p>\n The bullish sentiment around Uniswap has been further fueled by a significant exploit that impacted another cryptocurrency token, the Curve Stablecoin Pools (CRV) token. The exploit led to a steep 20% plunge in the price of CRV, causing traders to pivot towards Uniswap’s UNI token.<\/span><\/p>\nUNI Age Consumed: Understanding On-Chain Data<\/strong><\/h2>\n
UNI back into the $6.4 territory. Chart: TradingView.com<\/a><\/pre>\n
Source: Santiment<\/a><\/pre>\n
Uniswap Gains Preference After Curve Exploit<\/strong><\/h2>\n