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Why UNI’s latest rally is more than just ETH whales showing increased interest

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Why UNI’s latest rally is more than just ETH whales showing increased interest

  • UNI was among the cryptos that the top 100 ETH whales were holding
  • Funding rate and MVRV Ratio increased, with growth in the NFT space

Uniswap [UNI] outperformed several other cryptos with a larger market capitalization by registering double digit gains in a single day.

CoinMarketCap’s data revealed that UNI’s price increased by over 11% and 23% in the last 24 hours and week, respectively. At the time of writing, UNI was valued at $6.78 with a market cap of more than $5.1 billion. 


Realistic or not, here’s UNI’s market cap in BTC’s terms


The recent uptrend might have played a key role in garnering whale interest. WhaleStats, a popular Twitter handle that posts updates related to whale activity, revealed that UNI was among the cryptos that the top 100 Ethereum whales were holding. 

🐳 The top 100 #ETH whales are hodling

$143,904,510 $BEST
$82,328,580 $LOCUS
$69,548,634 $SHIB
$54,079,306 $BIT
$45,040,571 #UnknownToken
$38,364,578 $MATIC
$35,607,938 $UNI
$29,912,204 $MOC

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Whale leaderboard 👇https://t.co/N5qqsCAH8j pic.twitter.com/0EYhh5oRAs

— WhaleStats (tracking crypto whales) (@WhaleStats) January 13, 2023

What’s working in UNI’s favor?

LunarCrush’s data also painted a bullish picture for UNI, as its Galaxy Score was optimistic. This suggested a continued price surge in the coming days.

TOP 15 coins by @LunarCRUSH Galaxy Score

Galaxy Score – proprietary score that is constantly measuring crypto against itself with respect to the community metrics pulled in from across web$YOOSHI $WAN $FTM $WAVES $UNI $HOOK $ANKR $ROSE $NAKA $XAVA $ANC $BOO $QUICK $PNG $LPOOL pic.twitter.com/pfyJERChUu

— 🇺🇦 CryptoDiffer – StandWithUkraine 🇺🇦 (@CryptoDiffer) January 13, 2023

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Moreover, a look at Santiment’s chart pointed out that, apart from the Galaxy Score, a few of the other on-chain metrics remained supportive over the last seven days. 

For instance, UNI‘s demand rose in the derivatives market as its Binance Funding Rate remained consistently high. UNI’s MVRV ratio also increased during the last few days, which was bullish. The network’s development activity steadily increased as well, implying that developers were working hard to improve the network.

Positive sentiments around UNI spiked at press time, which marked the community’s trust and faith in UNI

Source: Santiment


Read Uniswap’s [UNI] Price Prediction 2023-24

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A quick look at the NFT space of Uniswap

A few days ago, Uniswap announced the launch of a new NFT aggregator in its latest effort to secure a piece of the NFT market. NFT listings from several marketplaces, such as OpenSea, will be combined in the aggregate so that they can be viewed from a single interface. 

Since then, UNI’s NFT space has witnessed growth, as revealed by Santiment’s chart. Though UNI’s total NFT trade count went down slightly, its total NFT trade volume in USD went up over the past week. 

Source: Santiment

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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Monero [XMR]: Can bulls defend $163 support level as bears take over

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Monero [XMR]: Can bulls defend $163 support level as bears take over

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • XMR formed a descending channel pattern. 
  • Investors were strongly bearish on XMR as Open Interest (OI) fluctuated. 

Monero’s [XMR] press time plunge was likely because of an increasing divergence in key technical indicators. XMR dropped by over 6% in the past seven days, as per Coingecko’s data.


Read Monero [XMR] Price Prediction 2023-24


At press time, its market was still weak as bears had more leverage. However, the asset was approaching a crucial support level. 

The $163.8 support level: Can it hold the drop?

Source: XMR/USDT on TradingView

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The increasing RSI (Relative Strength Index) and volume divergence from mid-January signaled February’s price correction. The RSI and volume dropped while the XMR price surged, painting a bull trap ripe for a correction. So far, XMR has fallen from $186 towards the end of January to $165 at the time of writing. 

Monero could drop further and break below the crucial $163.8 support level. However, the drop could be checked by the $157 or $154 support levels. 

But bulls could attempt a recovery if the $163.8 support holds, invalidating the bearish bias described above. The rebound could target the upper boundary of the descending channel. However, traders can only make long entry positions if a break above and retest on the upper channel’s boundary is confirmed. Such an upswing would target the $180 zone. 

Nevertheless, the market weakened further, as shown by the dropping RSI and fluctuating volume (OBV). Therefore, bulls may have difficulty regaining control at the $163.8 level.

Investors were bearish on XMR as OI fluctuated

Source: Santiment

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According to Santiment data, investors were strongly bearish on XMR, as shown by the negative sentiment. In addition, the demand for the asset in the derivatives market has been fluctuating, limiting its strong uptrend momentum in the past few days/weeks. 

If the fluctuation in demand continues, XMR could face an extended price correction and a devaluation below the $163.8 price level. 


Is your portfolio green? Check out the XMR Profit Calculator


In addition, the open interest rate data by Coinglass further reinforces XMR fluctuations. More money moved from XMR’s futures market around mid-January. Afterwards, the OI fluctuated, undermining a strong uptrend momentum or recovery. 

Although the dropping OI momentum reduced at press time, a convincing price recovery could follow BTC’s bullish price action. Therefore, investors and traders should monitor the king coin price movements. 

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Source: Coinglass

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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Avalanche dominance under threat? Investors worry as GMX shifts to Arbitrum

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Avalanche dominance under threat? Investors worry as GMX shifts to Arbitrum

  • GMX moves to Arbitrum, threatening Avalanche.
  • Decreasing sentiment, declining TVL & NFT trades for Avalanche.

According to the latest data from Artemis, the majority of GMX‘s activity has shifted from Avalanche [AVAX] to Arbitrum. This shift has raised concerns about the potential impact on Avalanche, as GMX is currently the largest perp by market cap and outperforms many of its competitors in terms of Total Value Locked (TVL).


Is your portfolio green? Check out the Avalanche Profit Calculator


Avalanche gets impacted

On one hand, the negative sentiment surrounding Avalanche, as indicated by Santiment’s data, suggested that the overall outlook of the AVAX token in the crypto community was negative. This caused a decline in the network’s growing TVL, which stood at $970.16 million at press time.

Source: Santiment

Additionally, the overall volume of the AVAX token declined. According to Santiment’s data, the overall volume for AVAX fell from 1.2 billion to 3.14 million. The number of NFT trades on the network also fell, suggesting an overall lack of interest.

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However, there were some positive developments as well, one of them being the decreasing volatility of the AVAX token. A decline in volatility could attract some investors who are seeking stability for their portfolios.

Source: Santiment


How much are 1,10,100 AVAX worth today?


It’s also worth noting that despite the negative conditions for Avalanche, the number of stakers on the network grew by 21.5% in the last month, according to Staking Rewards. The number of stakers on the network was 65,988 at the time of writing. This suggested that there is still interest in the network, though its future remained uncertain.

Source: Staking Rewards

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It’s important to note that GMX’s move from Avalanche to Arbitrum could be due to various reasons, including the increasing popularity of the Arbitrum network and its ability to handle larger volumes of transactions efficiently. This shift could pose a threat to Avalanche, but it’s also possible that the network could recover and continue to grow.

Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/

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ADA price action

Cardano approaches critical resistance level of $0.42: Bulls to witness more gains?

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Cardano approaches critical resistance level of $0.42: Bulls to witness more gains?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • The higher timeframe market structure remained strongly bullish.
  • The $0.4-$0.42 is an important region of resistance- but ADA is likely to push higher.

Cardano [ADA] bounced from $0.38 to reach the $0.4 level of resistance over the past three days. Its technical structure remained bullish on the one-day timeframe – a move above $0.4 and subsequent retest could be a buying opportunity.


Is your portfolio green? Check the Cardano Profit Calculator


The increase in whale transactions saw a significant increase after 3 February. This raised concerns that buyer dominance was weakening.

Any pumps into the $0.42 area will be to take profits on

Source: ADA/USDT on TradingView

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Cardano has seen a remarkable run so far. A jump above $0.31 and the subsequent retest of $0.32 saw the support on the daily market structure decisively broken. The bias remained bullish, although the RSI continued to drop lower to show weakened bullish momentum.

This was because ADA encountered a stern band of resistance around $0.4. It is an important higher timeframe horizontal level. The $0.425 level acted as support from May to October 2022. Beneath it, the $0.4 and $0.376 levels also acted as important support and resistance levels in October and November.


How much is 1, 10, 100 ADA worth today?


Therefore, ADA bulls late to the party must recognize that the meat of the move upward is finished. Lower timeframe scalps within the $0.4-$0.42 region is possible. Longer-term buyers can wait for the flip of $0.42 to support before bidding and must be ready to cut the trade on a drop below $0.4.

The rising OBV meant some demand was present behind ADA. Above $0.42, $0.51 and $0.6 are the next high timeframe levels to watch out for.

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Sentiment has been lukewarm in February

Weighted sentiment fell below the zero mark as February 2023 began and hasn’t recovered since. The MVRV ratio (30-day) also tumbled, but the price did not see a significant sell-off. This hinted that near-term holders might have finished booking profits, and selling pressure could soon abate.

The development activity was unaffected by the higher price swing, which should encourage long-term holders. The age-consumed metric saw a swift spike in early February when ADA pulled back from $0.413.

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