Uniswap Down More Than 7% Within 24 hours
Portfolio Pulse from Benzinga Insights
Uniswap's (CRYPTO: UNI) price has decreased by 7.9% over the past 24 hours to $11.43, continuing a weekly downward trend of -9.0%. The trading volume for UNI has increased by 31.0% over the past week, while its circulating supply decreased by 0.96%, now at 75.38% of its max supply. UNI's market cap ranking is currently #19 at $8.63 billion.
April 02, 2024 | 3:03 pm
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NEGATIVE IMPACT
Uniswap (UNI) experienced a 7.9% price drop over the last 24 hours, with a weekly decline of 9.0%. The trading volume has surged by 31.0%, despite a decrease in circulating supply.
The significant price drop of Uniswap (UNI) over the past 24 hours and the past week, combined with an increase in trading volume and a slight decrease in circulating supply, suggests a negative short-term impact on its price. The increased trading volume indicates heightened activity, possibly as investors react to the price drop. The decrease in circulating supply, while typically a positive factor for price due to scarcity, may not immediately counteract the negative price trend observed.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100