Cryptocurrency Uniswap Falls More Than 14% In 24 hours
Portfolio Pulse from Benzinga Insights
Uniswap's cryptocurrency UNI has experienced a significant drop of 14.19% in the last 24 hours, with a current price of $6.27. Over the past week, UNI has seen a downward trend of -12.0%, decreasing from $7.35. The trading volume has fallen by 7.0% over the past week, while the circulating supply has increased by 0.21% to over 753.77 million, which is 75.38% of its max supply. UNI's market cap is currently ranked #22 at $4.79 billion.
January 03, 2024 | 7:01 pm
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NEGATIVE IMPACT
Uniswap's token UNI has seen a significant price drop of over 14% in the past day, and a 12% decline over the past week, with a decrease in trading volume and an increase in circulating supply.
The sharp decline in UNI's price, both over the past 24 hours and the past week, suggests a bearish short-term outlook for the asset. The decrease in trading volume could indicate reduced investor interest or market activity, which may further impact the price negatively. The increase in circulating supply could put additional downward pressure on the price as it suggests a greater availability of UNI for trading. Given these factors, the short-term impact on UNI's price is likely negative.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100