Uniswap Whale liquidates entire UNI holdings after two weeks; takes $180K loss

A large-scale crypto investor stirred the Uniswap community today after dumping his entire UNI assets.

According to Lookonchain, the whale has moved 408,557 tokens, worth approximately $3.93 million, to Binance.

Notably, the investor had accumulated the digital assets only two weeks ago at $10.06 average price, spending $4.11 million for the stash.

The decision to dump has led to a substantial $180,000 loss.

The transaction has sparked debates among cryptocurrency traders and analysts.

What does the dump mean for UNI’s near-term performance?

Whale deposits to exchanges often precede selling momentum, especially when investors exit at a loss.

What could have prompted the sell-off?

Besides their considerable impacts on price actions, large-scale dumps often carry weight as they reflect investor behavior.

Uniswap’s whale move to dump his entire holdings might signal growing caution among top players.

Such sentiments could indicate subdued price performance in the short term.

The dump could be a simple risk management where the investor reduces losses ahead of possible robust declines.

Notably, some speculate that the liquidations reflect prevailing indecisiveness in the altcoin space.

Most tokens endure prolonged consolidations while analysts forecast imminent breakouts.

Most importantly, Uniswap’s sluggish performance in the past few sessions likely prompted the whale’s decision.

UNI has underperformed lately, stuck below $10 as new players like Hyperliquid’s HYPE rallied to all-time highs.

It dipped to an intraday low of $9.49 amid the whale liquidation news.

However, the whale has missed a relief rally as digital assets soared after the US PPI data.

Cryptocurrencies turned bullish after the lower-than-anticipated stats.

Bitcoin reclaimed $114,000 amid optimism of a potential rate cut during the Fed’s September meeting.

The global cryptocurrency market cap recovered swiftly to $3.94 trillion, with top altcoins dominating trends.

Binance Coin has hit new all-time highs above $900, while XRP tests the $3 psychological mark.

Uniswap’s native token joined the rally, gaining more than 4% from its daily low to $9.7834.

UNI price outlook

The altcoin is trading at $9.77, up over 2.5% on the daily timeframe.

However, the declining trading volumes signal weak momentum, hinting at short-lived recoveries for UNI.

Nevertheless, attention remains on the upcoming Fed meeting (on September 17).

A rate cut could see cryptocurrencies reclaiming key price levels and target new ATHs.

UNI is trading above the nearest resistance at $8.50 – $8.80.

Holding above $9.00 could propel the alt towards the crucial resistances at $13 and $15.

Extended broader market recoveries would see Uniswap hitting the long-term target of $19, translating to a nearly 95% gain from the current UNI market price.

However, a sudden sell-off will invalidate the bullish narrative.

Failure to hold the support at $8.50 might catalyze price dips to $7.50, beneath which UNI will see prolonged consolidations or significant declines.

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