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Uniswap [UNI] Sees Record Surge in Accumulation – Is a Rally Likely?
In recent market developments, it has come to our attention that Uniswap has experienced an unprecedented increase in accumulation. Over $54 million worth of UNI tokens have been withdrawn from several crypto exchanges within the first week of February. This surge has raised concerns about a potential rally in the token’s price.
The record-breaking daily accumulation of $25.16 million on Tuesday, 4th of February, is one of the highest buying sprees since 2021, as reported by blockchain analytics firm IntoTheBlock. In contrast to the recent downturn, UNI token holders have taken advantage of discounted prices below $7 to accumulate the asset.
The data suggests that institutional investors and long-term traders took part in this unprecedented accumulation. It is crucial to assess whether this buying activity can lead to a rally or if it is just an aberration.
Additionally, we must examine how these events will affect UNI’s price chart.
Source: ambcrypto.com
