Uniswap's dominance in the decentralized exchange (DEX) market continues to grow, with its network activity surging. A recent whale purchase of 100,000 UNI at $14.24 highlights investor confidence. UNI's price chart points to a potential breakout, with a symmetrical triangle pattern forming. On-chain metrics provide a mixed outlook, with increased net network growth and whale activity but also profit-taking and a decline in large transactions. Technical indicators offer further insights into Uniswap's current state.
dominance in the decentralized exchange market continues to grow, with its network activity surging from 36.8% to an impressive 91.3% in 2024. This remarkable growth has attracted over 45.3 million users, solidifying its position as the leading DEX for user acquisition.
A breakout above this level could propel UNI towards $20 or higher, generating substantial upside for traders. However, recent selling pressure on the chart underlined the importance of sustained buying momentum.On-chain metrics pointed to a mostly bullish outlook for UNI. Net network growth rose by 0.22%, indicating an influx of new users. Additionally, whale activity has remained consistent, with the concentration increasing by 0.07%.
Uniswap DEX Cryptocurrency Price Analysis On-Chain Metrics
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