On June 1, Uniswap (UNI) declined 2.30%, falling below the crucial $3.02 support level that had held since February. This drop occurred amid intensified bearish sentiment, driven by significant whale selling and a Long/Short Ratio of 0.91 indicating more bearish bets. Despite increased trading volume, UNI remains in a downtrend below its 200-day EMA, suggesting potential further declines unless it recovers above $3.02. Key liquidation levels at $2.91 and $3.09 show stronger conviction among sellers, pointing to continued downside risk in the near term.
Uniswap set a new daily record by burning 134,000 UNI tokens under its UNIfication mechanism, reflecting increased fee collection and token burns across multiple blockchains. Hayden Adams, Uniswap's creator, expressed strong bullish sentiment on DeFi...
Major cryptocurrencies experienced significant price declines, with Bitcoin falling 4.25% to $60,761 and Ethereum dropping 9.86% to $1,592. Other notable losses include Binance Coin down 4.74% and Cardano plunging nearly 15%. This broad sell-off refl...
Leading cryptocurrencies like Bitcoin and Ethereum experienced significant price declines, with Bitcoin falling about 6.57% to $66,870 and Ethereum dropping nearly 5% to $1,901.68. This broad market sell-off reflects investor caution and potential pr...
