Overview
- Uniswap’s token rallied roughly 12%–15% in 24 hours to trade around $6.75–$7.15, marking its strongest level in about a month.
- Spot activity accelerated with 24-hour trading volume climbing to roughly half a billion dollars, reflecting renewed interest in DeFi tokens.
- Derivatives participation increased as open interest rose about 27% to roughly $353 million, aligning with the price advance.
- Short positions were liquidated more than longs, indicating a squeeze that helped fuel the move, though rising exchange reserves suggest some profit-taking risk.
- Analysts flag a decisive close above ~$7.1 as validation, with follow-on levels near $7.6–$8.5 and the 50-week EMA at ~$8.17, and some see room toward $10 if momentum persists alongside broader market strength.