Popular altcoins Uniswap (UNI) is attracting attention in the cryptocurrency world with its recent impressive price increase and breaking a significant resistance level. Following this exit on August 22, 2024, a whale that had been inactive for six months withdrew 1.48 million UNI tokens worth $10.4 million from Coinbase Prime. This remarkable move was reported by the on-chain analysis firm Spotonchain.
A likely investor’s wallet just reactivated after 6 months and withdrew 1.48M $UNI ($10.4M) from #Coinbase Prime ~2hrs ago.
Now, this wallet holds 3.91M $UNI ($27.2M), with:
• 3M $UNI withdrawn from Coinbase at ~$6.89 ($20.6M) in Feb and Aug 2024;
• 911K $UNI unlocked from… pic.twitter.com/o0kuNmNuzg
— Spot On Chain (@spotonchain) August 22, 2024
What to Expect from Uniswap Price?
According to technical analysts, Uniswap (UNI) is showing a strong bullish signal after breaking through a critical downtrend line and a key resistance at $6.75. However, a correction is possible before this upward move.
Considering historical price movements, altcoinis expected to rise by 25 percent in the coming days and reach the levels of $9 to $12. However, this rise may face some difficulties at the levels of $7.5 and $9.
Whales’ UNI Movements: The Second Big Attraction
According to a post on the X platform, with the latest UNI withdrawal, this whale now has 3.91 million UNI tokens worth $27.2 million. This was the second significant move in which the whale withdrew a large amount of UNI tokens.
First, in February 2024, this whale withdrew 1.52 million UNI tokens at an average price of $6.82. In addition, during this period, it also received 911 thousand UNI tokens from the Uniswap treasury; these tokens were at $7.74 at that time.
Uniswap Price Movements and Analysis
The altcoin is currently trading at $6.93 and is up over 8% in the last 24 hours. Trading volume has increased by 101% in the same period, suggesting that traders are showing a lot of interest in this sudden surge.
Additionally, UNI’s open interest has increased by 15 percent in the last 24 hours, indicating increased investor interest following the breakout.
