- Number of Bearish large investors in Uni has grown considerably and they started selling the asset
- On-chain statistics revealed a decrease in total value locked and reimbursements generated as sentiment changed
Uni has seen a decrease of 11.95% on the market in the last 24 hours. This is because the larger sentiment became bearish. And yet this fall can probably be driven by whales in the market.
However, this is not all, as the analysis of Ambcrypto revealed that outside the whales, other market participants also reduced involvement in the UN – a possible factor that caused a price fall.
Whales start to sell uni
There has been a considerable difference in the number of bulls and bears on the market, according to Intothebllock, with 12 bulls up to 23 bears in the last 24 hours. In this case, Bulls and Beren are categorized as addresses that keep up to 1% of the stock of the uni that it actively bought or sold it on a certain day.
When inequality is high, the market tilts in favor of large holders. With 11 more bears in the market, the trade volume was dominated by this group, which contributed to the price drop of 11.95%.
A further analysis showed that this market cohort traded 11.98 million uni within this period, a total of $ 136.4 million-rarely consisting of large sale in the market.
Source: Intotheblock
This bearish sentiment extended beyond the whales, while liquidity providers also start selling. Needless to say that the use of Uni has fallen.
Wider Market is in line with the Bearish mode
The wider market, according to the analysis of Ambcrypto, was bearish on uni, with two statistics – losses of the extreme value (TVL) and generated costs – at the same time.
TVL, which represents the amount of an active person deposited in liquidity pools, has fallen for Uni, falling from $ 5,937 billion to $ 5,584 billion. This suggested that market participants are starting to unlock their uni and sell it.
Source: Defillama
During this period, the transaction costs fell and they fell from $ 9.24 million in UNI on January 20 to its second -time value of $ 4.49 million.
This hinted on low trading activity during this period, accompanied by a bearish undertone in the market.
Steady adoption of uni
Despite the bearish sentiment, the number of unique traders, identified as various Uni addresses involved in transactions, has remained stable. These addresses are ranging between 88,700 and 94,700 – which demonstrates consistent activity.
If the number of active addresses exceeds this range, an increase in the participation of the trader can positively influence the price of Uni, causing the upward momentum to increase.
For now, this active cohort helped to stabilize the price of Uni and to prevent a sharper decrease.
