Cryptocurrency Uniswap Down More Than 6% Within 24 hours
Portfolio Pulse from Benzinga Insights
Uniswap's cryptocurrency UNI has seen a 6.93% decrease in price over the last 24 hours, settling at $5.79. This decline is part of a broader negative trend over the past week, with a 3.0% loss from $5.97. Trading volume has decreased by 67.0%, and the circulating supply has slightly decreased by 0.15% to 753.77 million, which is 75.38% of the max supply. UNI's market cap is currently ranked #22 at $4.35 billion.
December 18, 2023 | 7:02 pm
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NEGATIVE IMPACT
Uniswap's token UNI has experienced a significant drop in price and trading volume, indicating a bearish short-term sentiment among investors.
The substantial decrease in both price and trading volume for UNI suggests a negative market sentiment that could lead to further short-term declines. The reduction in circulating supply is typically a neutral to positive signal, but it seems overshadowed by the negative price action. The market cap ranking provides context but does not directly influence short-term price movements.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100