Uniswap price has fallen 3.99% to $6.73 on October 30 after the attacker behind the Binance hack reportedly sold 7.02 million UNI tokens worth $39.63 million, adding to selling pressure acros
Uniswap price has fallen 3.99% to $6.73 on October 30 after the attacker behind the Binance hack reportedly sold 7.02 million UNI tokens worth $39.63 million, adding to selling pressure across the cryptocurrency market.
SummaryAccording to blockchain analytics platform Lookonchain, the attacker converted the stolen UNI into Ethereum at an average price of $5.65 per token. The sale formed part of a larger operation involving seven cryptocurrencies, which generated 70,480 ETH valued at $158.25 million.
UNI recovered from an intraday low of $6.27 but remained below its previous trading range. The token has lost 7.62% over seven days and 23.48% in the past month, with daily trading volume reaching $1.32 billion.
The selling began after unauthorized transfers from Binance-controlled wallets on October 29. On-chain investigators tracked millions of UNI leaving addresses connected to the exchange before appearing in transactions that exchanged the tokens for ETH.
An initial investigation identified 3.86 million UNI sold through 23 transactions, leaving another 3.16 million tokens in the receiving wallet. Subsequent monitoring showed the attacker had completed the sale of all 7.02 million UNI.
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The hacker disposed of other cryptocurrencies during the same operation. These included 217.5 million ENA worth $33.93 million, 7.77 trillion PEPE valued at $31.66 million, and 2.57 million LINK worth $26.05 million.
AAVE, ONDO and WLD accounted for the remaining sales, with the attacker collecting the proceeds in ETH. UNI represented the largest individual sale among the seven assets.
The transactions took place while Bitcoin and other major cryptocurrencies were falling.
Despite the latest price weakness, Standard Chartered’s global head of digital assets research, Geoffrey Kendrick, believes the Binance breach could eventually benefit decentralized exchanges.
In comments reported by Cointelegraph, Kendrick argued that traders may become more interested in platforms where they retain control of their assets, instead of keeping funds with centralized exchanges.
“I would encourage investors to re-engage with Uniswap,” Kendrick said, maintaining his $100 UNI price target for 2030.
The analyst suggested that the Binance incident could help decentralized exchanges capture a larger share of cryptocurrency trading. He nevertheless expects further market weakness before prices establish a more stable base.
JUST IN: Standard Chartered analyst says Binance hack could accelerate DEX adoption and lift UniswapAnalyst Geoffrey Kendrick says the incident may drive more traders toward decentralized exchanges, adding that his $100 price target for $UNI by 2030 could prove too… pic.twitter.com/KCLyvdmFcr
— crypto.news (@cryptodotnews) October 30, 2026
As crypto.news reported in June, Kendrick’s original forecast rested partly on expectations that tokenized assets would bring more trading activity into decentralized finance.
Uniswap’s existing fee mechanism provides another part of that argument. Following governance changes introduced in December 2025, the protocol began directing certain trading fees toward UNI purchases and token burns.
An August examination of Uniswap’s fees detailed how the system removes tokens from circulation as eligible protocol revenue accumulates. The amount burned depends on actual fee collections and the applicable settings across liquidity pools.
Uniswap’s latest daily chart showed a recovery from $6.26 toward $6.72, although the token remained below its late-September highs above $10.
The Balance of Power indicator stood at 0.39, suggesting buyers had gained some ground during the session. However, the Chaikin Money Flow reading of -0.01 pointed to nearly balanced capital flows, with a slight selling bias.
Uniswap price chart, source: crypto.news
The latest rebound therefore has limited confirmation from money-flow indicators. UNI needs stronger buying activity to recover the ground lost during October.
On the derivatives side, the token has another trading venue following the launch of CME futures on October 19. The exchange offers standard and micro UNI futures contracts, giving traders regulated exposure to the token’s price.
At $6.73 at press time, UNI faces immediate resistance around $7.00, followed by $7.50 and $8.00. A sustained move above $7.50 would improve the short-term chart structure after several weeks of falling prices.
Meanwhile, crypto analyst Crypto With Gopal identified a possible double-top formation on the five-minute chart, with two rejected attempts near $6.88.
$UNI / USDT – 5MUniswap is printing a textbook Double Top pattern 👀📉Price has faced rejection twice near $6.88, forming strong resistance. The neckline around $6.73 is under pressure, signaling potential bearish continuation.🎯 Bearish downside target: $6.55Resistance:… pic.twitter.com/DjMTWUnEvL
— Crypto With Gopal (@cryptowithgopal) October 30, 2026
The analyst placed the neckline around $6.73 and identified $6.55 as a potential downside target if the pattern breaks. Resistance on that shorter timeframe sits between $6.85 and $6.90.
On the daily chart, the 6.25–6.50 region remains the immediate support area. Losing that zone could expose $6.00, while the longer-term 200-day moving average near $5.60 represents a lower technical level.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
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