Cryptocurrency Uniswap Decreases More Than 6% Within 24 hours
Portfolio Pulse from Benzinga Insights
Uniswap's cryptocurrency UNI has seen a 6.94% decrease in price over the past 24 hours, reaching $5.69. This continues a weekly downward trend resulting in a 17% drop from $6.85. Trading volume has decreased by 61%, and the circulating supply has slightly decreased by 0.02% to over 753.77 million, which is 75.38% of the max supply. UNI's market cap is currently ranked #23 at $4.29 billion.
January 23, 2024 | 7:01 pm
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NEGATIVE IMPACT
Uniswap's token UNI has experienced a significant price drop of 6.94% in the last 24 hours, with a 17% decrease over the past week. The trading volume has also seen a substantial decrease.
The price of UNI has dropped significantly, which is likely to negatively impact investor sentiment in the short term. The decrease in trading volume suggests lower liquidity and potentially less interest from traders, which could further drive the price down. The reduction in circulating supply is typically a positive factor for price, but it seems to be overshadowed by the negative sentiment reflected in the price drop and volume decrease.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100