- Uniswap sees a sharp decline in large transactions.
- Statistics point to possible continued bullish momentum.
Uniswap [UNI] has registered a severe decline in the number of large transactions, but market sentiment remains quite optimistic. A significant percentage of address ownership increased due to the growth in the number of daily active addresses.
Despite the 64% drop in large transfers, an increase in the number of active addresses and a positive percentage of owned addresses indicates that more momentum remains in the uptrend.
Uniswap big dip, but no slip
Uniswap has suffered a sharp 64% decline in large trades. This decline in high-volume transactions could indicate that large investors are being cautious or switching to other platforms.
Still, it doesn’t seem to reflect the overall state of the DEX. Despite this decline, the Uniswap ecosystem is still showing strength.
Source: IntoTheBlock
The bullish momentum is growing without haste
While large trades have fallen, Uniswap’s price movement has taken a bullish tone. The token is gaining momentum on the charts, indicating that market sentiment is turning positive.
Market participants are now starting to take note of the bullish setup on Uniswap and could fuel further price action in the future.
Source: Tradingview
Uniswap’s daily growth indicates market flow
In the past 24 hours, Uniswap has also seen a 2% increase in active daily addresses. The increase in the number of active addresses indicates higher user participation.
This further indicates that market participation is becoming more interactive with the stock exchange.
The more the number of active users grows, the greater the liquidity that potentially supports the upward price movement.
Source: IntoTheBlock
Holding addresses for profit fuels optimism
A significant 44% of holding addresses are currently profitable. This creates more market optimism for Uniswap.
Such profitability indicates a very strong position for many Uniswap holders, which could increase confidence in the long-term potential of the token.
Based on this setup and current bullish momentum, these numbers generally point toward further upward shifts.
Source: IntoTheBlock
Is your portfolio green? View the UNI Profit Calculator
Although the number of large trades on Uniswap is decreasing, this does not take away from the bullish outlook.
An increase in the number of daily active addresses and a large number of profit holders suggest that Uniswap’s bullish rally may be yet to come.
Credit : ambcrypto.com
