• Uniswap’s market share dropped as Raydium gained dominance, with netflows signaling investor uncertainty.
• UNI remained in a downtrend, with high liquidations and weak trader confidence limiting recovery.

A newly created whale wallet withdrew 461,874 Uniswap [UNI] ($4.56M) and 15.8M USDT from Binance within two days, raising speculation about a possible market shift.

Large withdrawals like these often signal upcoming price movements, either through strategic accumulation or preparation for a major trade. 

Therefore, investors are closely monitoring whether this activity indicates confidence in Uniswap’s future or a change in liquidity strategies.

However, broader market trends suggest Uniswap faces challenges that could impact its short-term outlook.

UNI’s market share slips despite strong volumes

At press time, UNI traded at $9.02, down 2.33% in the last 24 hours. However, a bigger concern is its declining decentralized exchange (DEX) market share.

Raydium overtook Uniswap in January, capturing 27% of DEX volume, while Uniswap’s share dropped from 34.5% in December to 22%. 

This shift is largely driven by Solana’s rising memecoin trading activity, which has attracted significant liquidity.

Additionally, growing dissatisfaction within the Ethereum community over Uniswap’s direction has further pressured its position.

Exchange netflow signals growing uncertainty

Uniswap’s exchange netflow showed a decline of 3.22%, indicating more UNI had left exchanges than entered. Typically, large withdrawals suggest investors are holding for the long term, which can be bullish. 

However, sustained outflows also signal that traders lack confidence in short-term price appreciation. Additionally, concerns over UNI’s weakening position in the DEX market may be causing some investors to pull back.

High NVT ratio raises concerns
Go to Source to See Full Article
Author: Erastus Chami

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