Why the recent UNI race is more than just showing ETH whales a growing interest

  • UNI was among the cryptocurrencies held by the top 100 ETH selectors
  • Funding rate and MVRV ratio have increased, as the NFT space has grown

Uniswap [UNI] It has outperformed several other cryptocurrencies with the largest market cap by posting double-digit gains in one day.

CoinMarketCap’s data He revealed that the price of UNI has increased by more than 11% and 23% over the past 24 hours and a week, respectively. At the time of writing, UNI is valued at $6.78 with a market capitalization of over $5.1 billion.

Realistic or not, here it is UNI’s market cap in terms of BTC

The recent upward trend may have played a major role in gaining electoral interest. WhaleStats, a popular Twitter handle that posts updates related to whale activity, revealed that UNI was among the cryptocurrencies held by the top 100 Ethereum whales.

What works for UNI?

Lunar Crush data It also painted a bullish picture for UNI, as its Galaxy Score was bullish. This indicates that prices will continue to rise in the coming days.

In addition, a look at the Santiment chart indicated that, apart from the Galaxy Score, some other metrics in the series have remained supportive over the past seven days.

For example, UNIs Demand has increased in the derivatives market as Binance’s funding rate has been consistently high. UNI’s MVRV has also been up in recent days, which has been bullish. Network development activity has also increased steadily, indicating that developers have been working hard to improve the network.

Positive sentiments around UNI have increased at the time of publication, which indicates the community’s trust and faith in it UNI.

Source: feeling

Read Uniswap [UNI] predict the price 2023-24

A quick look at Uniswap’s NFT space

A few days ago, Uniswap more dangerous Launching a new NFT aggregator in its latest attempt to secure a slice of the NFT market. NFT listings from multiple marketplaces, such as OpenSea, will be combined in aggregate so that they can be viewed from a single interface.

Since then, UNI’s NFT space has been growing, as evidenced by Santiment’s chart. Although total NFT trading in UNI decreased slightly, total USD NFT trading volume increased over the past week.

Source: feeling

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