- Analysis shows that Uni has been collected if the number of active addresses and the Treasury value have increased.
- Volume activity and liquidity flow have not favored the upward movement of the Active.
Uniiswap [UNI] has experienced an impressive revival in the last 24 hours, with 14%, as observed on coinmarket cap.
This increase has taken up the losses in the past month, so that uni is placed back in the positive zone.
An analysis of market sentiment indicates that although activity at the chain can open the door for further meetings, the actual is still confronted with threats, as the research by Ambcrypto suggests.
370K Uni holders and Treasury Boost Signal Strong Fundamentals
Market data shows that the recent price increase can be attributed to various important developments on chain.
An important contribution makes the total number of Holders of Uni, which has reached a new of all time.
At the time of writing, around 370,000 addresses Uni are now holding. Although the total volume of these addresses is not specified, it is probably important, which contributes to the recent price increase of 24 hours.
Source: Artemis
During this period the Treasury value also grew, which further strengthens the bullish sentiment. The treasury is now appreciated at $ 5.6 million.
This growth indicates that the financial health of Uniswap is strong and that the team has the necessary means to support developmental efforts when needed.
Although these market developments have drawn investors closer to UNI, sentiment data also suggests that the market is not entirely bullish.
Dex Volumes fall, and TVL inches up
Market analysis reveals a remarkable decrease in spot trade activity on decentralized exchanges (DEXs), while the volume continues to fall.
Dex Spot Volume has currently fallen, with only $ 1 billion in trade volume observed for Uni.
Source: Artemis
This persistent decrease suggests that spot traders may still sell actively, which may put down a downward pressure on its price.
In the meantime, Defillama data indicate a sharp fluctuation in the total value of Uniswap (TVL), which follows assets in the protocol.
At the beginning of June, TV bumped around $ 4.847 billion and is now $ 4,883 billion. This light increase suggests the minimum fluidity in the last 10 days.
Source: Defillama
This trend indicates that the conviction of investors is not particularly strong. Instead of locking assets in liquidity pools for the long term, many can keep funds at centralized trade fairs (CEXS) for rapid sale.
Sell spots, but derivatives traders remain bullish
Spotmarkt data indicates that sellers have been more dominant lately.
In the last 48 hours, Uni worth $ 7.93 million has been sold, with $ 6.48 million in turnover within the last 24 hours alone.
Source: Coinglass
Although this has added a downward pressure on the active, derivatives market data suggest that traders remain at centralized fairs bullish.
In the last 24 hours, the financing percentage of Uni has risen in particular to 0.0044%, indicating that holders with a long position pay a premium pending further rallies.
Source: Coinglass
In general, the market sentiment reveals that long traders combat the sales pressure of the spot market, so that bullish prospects are generally retained.