SHERIIF🎭
@sherif04
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967 Followers
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Uniswap (UNI) has gained 14.33% in the last 24 hours, sparking speculation about its long-term bullish potential. With growing user engagement and reduced selling pressure, UNI may be poised for further growth.
Key Highlights:
1. Price Action: UNI retested key resistance at $17.12, with indicators pointing to a potential breakout.
2. Address Statistics: Active addresses surged by 23.94%, and new addresses grew by 8.42% over the past week, highlighting increasing network activity.
3. _Transaction Count and Exchange Reserves_: Total transactions grew by 1.12%, and exchange reserves fell by 0.64%, signaling reduced selling pressure.
4. _Market Sentiment and Open Interest_: Open Interest climbed by 5.67%, reflecting heightened speculative activity and confidence in UNI's near-term potential.
With robust price action, increasing user adoption, and reduced selling pressure, UNI may be well-positioned to break through the key resistance at $17.12. If this happens, a hike towards $20 or higher seems highly likely. 0 reply
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Bitcoin and Ethereum Options Expiry Triggers Market Volatility
The crypto market is experiencing heightened activity following the expiry of major Bitcoin and Ethereum options contracts. The expiry of $2.63 billion worth of options has triggered volatility, with both assets trading below key levels.
Key Highlights:
1. _Options Expiry_: 21,000 BTC options expired with a notional value of $2.04 billion, while 173,000 ETH options expired with a notional value of $590 million.
2. _Max Pain Points_: Bitcoin's max pain point was $101,000, while Ethereum's was $3,750. Both assets are currently trading below these levels.
3. _Market Declines_: Bitcoin has fallen by 6.41% in the past 24 hours, while Ethereum has lost 10.50%.
4. _Increased ETF Outflows_: ETFs are seeing heightened outflows, contributing to market movements.
5. _Options Activity_: Market makers have adjusted positions to align with the high volume of expiring options, with block call options accounting for over 30% of daily trading. 0 reply
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