UniSwap Price Action To Monitor Following Recent Happenings

A significant move by a Uniswap team, investor, or advisor wallet, identified as 0x63b, saw the deposit of 1.19 million UNI tokens

A significant move by a Uniswap team, investor, or advisor wallet, identified as 0x63b, saw the deposit of 1.19 million UNI tokens, valued at $9.15 million, to Coinbase Prime today. This wallet had previously received 9 million UNI from Uniswap on September 17, 2020, when the token was priced at $3.44.

Since July 4, 2024, it has deposited a total of 7.17 million UNI, equivalent to $58.51 million, at an average price of $8.16. Currently, the wallet holds 1.83 million UNI, valued at $14.08 million, with the possibility of more deposits on the horizon.

This #Uniswap team-linked wallet deposited 1.19M $UNI ($9.15M) to #Coinbase 2 hours ago.

The wallet received 9M $UNI from @Uniswap in 2020 and has deposited 7.17M $UNI ($58.5M) to Coinbase at ~$8.16 since July 4, 2024.

The remaining 1.83M $UNI ($14M) may be deposited away soon.

UniSwap Price Action To Monitor Following Recent Happenings

Uniswap has seen a decline of 18% over the past 30 days, although there was a slight price increase of 2% in the last 24 hours, according to CoinMarketCap data.

Despite these fluctuations, Uniswap remains a dominant force in the decentralized exchange (DEX) sector. The platform, which uses smart contracts to create liquidity pools for trade execution, generates nearly $100 million in monthly fees, underscoring its significant market presence.

A majority of fees are generated by general-purpose blockchains.

$Lido generates the most fees out of all crypto DApps.

The $UNI DAO dominates the DEX sector with monthly fees nearing $100M

What else does this chart to tell you? pic.twitter.com/QJxjYm5BHj

— Max | One Click (Chainanalysis) (@maxyamp) July 27, 2024

The recent activities of the 0x63b wallet, coupled with the ongoing price movements, highlight the dynamic nature of the cryptocurrency market and the strategic maneuvers by key stakeholders within the Uniswap ecosystem. As Uniswap continues to navigate through market volatility, its ability to maintain dominance and generate substantial fees will be crucial for its long-term success.

Investors and market watchers should keep an eye on the movements of major wallets like 0x63b, as their actions can provide valuable insights into market sentiment and potential future trends for UNI and the broader DEX market.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

The above is the detailed content of UniSwap Price Action To Monitor Following Recent Happenings. For more information, please follow other related articles on the PHP Chinese website!