Uniswap’s native token UNI has drawn significant attention following a recovery from levels below $7, now trading at $9.64 and testing a key long-term resistance zone near $9.50. This renewed
Uniswap’s native token UNI has drawn significant attention following a recovery from levels below $7, now trading at $9.64 and testing a key long-term resistance zone near $9.50. This renewed market activity has followed a period of steady gains, attracting both traders and large investors to the decentralized exchange ecosystem.
Over the past 24 hours, UNI recorded a slight decline of 0.28% but maintained a robust trading volume of $3.42 billion. Its market capitalization reached $5.99 billion, securing a reported market dominance of 0.21% among cryptocurrencies. Recent data from CoinGecko showed UNI rising from $6.69 on September 16 to close at $10.22 on September 22, highlighting the pace of its rally.
Crypto analyst Crypto Patel stated that UNI had broken above its $9.50 long-term resistance. According to the analyst, UNI previously entered an accumulation phase under $2.50 and later touched $10.94, marking an increase of about 372% from its lows. Patel projected a possible long-term trading range between $30 and $50 for UNI but cautioned about the potential for pullbacks to $7 or even $5 in the near future.
Crypto Patel predicted, “after breaking the $9.50 resistance, UNI could eventually reach a range between $30 and $50, though significant retracements to $7 or $5 may occur before any further upward momentum.”
September saw notable fluctuations in UNI’s price, with the token trading at $6.13 on September 13 and climbing steadily to $10.22 by September 22. These movements have coincided with increased activity among larger wallets. Data from Lookonchain indicated that a newly created wallet, 0xEFC4, purchased 269,477 UNI valued at about $2.84 million, while wallet 0xf415 acquired 138,442 UNI worth roughly $1.23 million. In total, over $4.07 million in UNI was accumulated by major buyers in a short period.
Further highlighting market activity, another wallet purchased 788,000 UNI for approximately $6.26 and later sold the position at $8.85, generating a $2.04 million profit within one week. Such moves underline the volatility experienced by UNI throughout September.
Mini dictionary: Whale, a term used to describe an individual or entity that holds a large amount of cryptocurrency and can significantly influence the market through large transactions.
Uniswap Labs recently reported several protocol and ecosystem developments. On September 16, the company stated that Uniswap v2, v3, v4, and UniswapX are now active on Arc, the Layer 1 blockchain created by Circle, a major stablecoin platform. According to the announcement, Uniswap has processed $2.7 trillion in stablecoin volume since 2020, including $2 trillion in USDC transactions.
The latest v4 upgrade introduces new features such as StablePair and a dynamic-fee hook, while Permissioned Pools will allow tokenized fund management to access automated market maker (AMM) liquidity on a selective basis. In addition, Uniswap has expanded to new platforms including Robinhood Chain, Linea, and Tempo, broadening its reach across multiple blockchain networks.
Mini dictionary: Arc, a Layer 1 blockchain built by Circle, aims to offer stablecoin-enabled payments and finance infrastructure for developers and institutions.
Uniswap’s ongoing expansion into new product lines and networks could further boost user engagement and trading activity. However, the effect on UNI’s market capitalization remains tied to overall demand, prevailing liquidity, and wider market sentiment.
The immediate outlook centers on whether UNI can maintain momentum above the $9.50 to $10.00 resistance region. If buying pressure persists, further gains may become likely. However, a loss of this support could shift attention back to technical levels at $7 and $5, as suggested by some analysts. The contrasting technical scenarios underscore the need for caution following the recent strong rally.
Uniswap’s strong price rebound in September, along with the participation of major wallets and rapid protocol upgrades, has made it a focus point for traders and investors closely monitoring the decentralized finance sector.
Date UNI Price 24h Volume Key Event Sept 13 $6.13 — Price low Sept 16 $6.69 — Start of recovery Sept 18 $8.84 — Continued rise Sept 22 $10.22 — Short-term peak Current $9.64 $3.42B Testing resistanceThe post Uniswap rises to $9.64 as whales acquire $4 million in UNI and ecosystem expands appeared first on COINTURK NEWS.
