Tag: Uniswap

Uniswap (UNI) Holds Key Support as Trading Volume and Fees Surge to 2024 Highs

Uniswap (UNI), the largest decentralized exchange, is showing resilience even as its price remains well below 2023 highs. On Monday, UNI traded at $6.50, hovering just above its year-to-date low of $4.92, and sitting on a long-term support zone.

uniswap

Massive Volume and Revenue Growth

According to DeFi Llama, Uniswap’s trading volume surged to over $73 billion in May, up from $53.2 billion in April—marking the largest monthly increase since February, when the protocol moved $78 billion in volume.

The Ethereum mainnet accounted for the majority of this activity, followed by Arbitrum, Unichain, and Base. Notably, Unichain, launched by Uniswap earlier this year, already surpassed $14 billion in volume—eclipsing Cardano’s $4.9 billion.

Meanwhile, TokenTerminal data shows Uniswap has generated over $380 million in fee revenue in 2024 so far, outpacing even Ethereum, which recorded $275 million.

Uniswap (UNI) Price Lags Behind Metrics

Despite strong fundamentals, UNI’s price is still 65% below its December high, partly due to increased competition from decentralized exchanges like PancakeSwap, which alone handled nearly $100 billion in trading volume this month.

Another bearish signal is whale activity. Data from Santiment shows UNI held by whales dropped from 850 million tokens in December to 748 million, suggesting large-scale sell-offs and distribution pressure.

Technical Analysis: Megaphone Pattern In Play

From a technical perspective, UNI’s weekly chart shows it’s following a bullish megaphone pattern, with diverging trendlines pointing to high volatility and a potential breakout.

The price is currently bouncing off an ascending trendline connecting major lows since June 2022. If UNI breaks above the upper boundary of the megaphone, a rally toward $19.24 (last November’s high) could be in play—representing a 200% gain from current levels.

However, a breakdown below the lower trendline would invalidate the bullish setup and could open doors to new lows.

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JUP and Uniswap Primed for Growth as This AI Crypto Soars 400% – Local Bottom Signals Potential Surge

After recent market dips, JUP and Uniswap are showing rebound potential. Returning with JUP oversold and UNI nearing resistance, meanwhile, CYBRO’s token presale has also already shot past $4 million, with whales eyeing it as a unique NeoBank investment offering potential 1200% ROI. CYBRO’s points system also contains exciting perks like airdrops and high staking rewards system. With only 21% of tokens left in presale, this CYBRO’s AI-powered platform on Blast blockchain certainly does stand out as a game-changer in DeFi.

After overall market falling out recently some cryptocurrency are showing strong signs of comeback. Jupiter (JUP) and Uniswap are in line to prove themselves and together with them comes the impressive $4 million surge of CYBRO and this momentum doesn’t seem to slow down any time sooner. This article delves more deeply on how CYBRO can be the next big thing.

Jupiter (JUP) Poised for a Comeback Following Recent Market Dip

Jupiter (JUP) has been trading between $0.79 and $1.03 for quite some time now. It is sitting below 10-day and 100-day averages, hinting at a short-term downtrend. But stochastic say something else, by sitting at 22.92 it is possibly oversold and could see a rebound very soon. RSI is neutral at 50.25 and if JUP breaks resistance at $1.18, it will be just enough to push up to $1.42 which is about 38% gain. However, if it drops under $0.70, it could test support at $0.46.

Uniswap (UNI) Approaches Key Resistance Level

Uniswap is on a constant rise up, crossing over 10% in the past week and nearly 24% in a month. Currently its trading between $6.49 and $7.97 and is looking to close on a key resistance at $8.89. It keeps it on with a chance to push higher up to $10.38 if it breaks through. It is just under its 10-day average of $9.05 but is close to its 100-day average which shows possible resistance.With a low stochastic at 12.09, UNI also seems oversold and so, investors are waiting to see if it can break out or drop back to $5.91 support.




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