• UNI reserves on exchanges reached new highs. 
• Decline in whale interest, falling MVRV ratio, and reduced user activity raised concerns about UNI’s performance.

Uniswap’s [UNI] reserves on exchanges have surged to record levels, as indicated by data from analyst Kate Young. The increased quantity of UNI held on centralized exchanges could be interpreted as a bullish sign. This suggested heightened interest and demand for the token.

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

On the other hand, a substantial reserve of UNI on centralized exchanges could also be viewed as bearish. This could be due to the possible intention to sell or exit positions.

$UNI reserves on centralized exchanges reached an all-time high.https://t.co/Fnf37rCYMc pic.twitter.com/hCAxYZcrPX

— Kate Young Ju (@kate_young_ju) June 10, 2023

Whales swim away

Despite UNI’s rising reserves on exchanges, the number of whales holding UNI has seen a decline. This decline in whale interest may have adverse effects on the price of UNI.

When whales reduce their positions, it often leads to increased selling pressure and can result in downward price movement. Additionally, high whale interest could also lead to centralization, potentially making retail investors more vulnerable to market manipulation.

The MVRV ratio for UNI, which compares the market value of the token to its realized value, experienced a

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Author: Himalay Patel

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