Charting the Unicorn: on $UNI’s on-chain activity, sell-side pressure and short term price potential (Sanbase Pro report)
Key takeaways:
- 78.2% of designated UNI has already been claimed
- UNI’s whale redistribution preceded price correction
- UNI exchange metrics suggest diminishing sell-side pressure, but caution is advised
- UNI’s social data earmarks recent price tops
- UNI’s on-chain activity declining swiftly, yet remains high
- Transaction dominance: UNI vs SUSHI vs YFI
- UNI-related network congestion issues continue to diminish
- Although it’s only been a week, Uniswap’s new token (UNI) has already given us heaps of on-chain and social data to analyze, speculate and use to make bold predictions about the coin’s short-term potential. But before we dig in, here’s a very brief history of the latest DeFi phenom:
What is UNI?
- For those of you that (somehow) missed it, Uniswap - the largest decentralized exchange protocol - recently rewarded its existing users and liquidity providers with thousands of $ worth of their new
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