Uniswap’s UNI Declines 8% Despite Positive Upgrade Sentiment

Uniswap’s native token, UNI, experienced a significant pullback over the past 24 hours, dropping from $7.12 to $6.53 amid volatile market conditions. Despite this downward pressure, strong whale interest and the promising rollout of Uniswap v4 suggest that investors are still bullish on the protocol’s long-term prospects.

The recent price slide reflects broader market weakness and cautious sentiment among traders. However, underlying factors such as Uniswap’s latest protocol upgrades and strategic accumulation by large holders offer a counterbalance, potentially limiting further declines.

Technical Overview

UNI’s price fell sharply from $7.12 to $6.53 within a day.
Technical support emerged around $6.40, backed by high trading volumes, according to CoinDesk Research.
The token showed a brief recovery, climbing to $6.60 before stabilizing near $6.52 by early morning.
A pattern of lower highs throughout the session indicates ongoing bearish momentum.

While short-term headwinds persist, the combination of innovative developments and whale activity points to sustained investor confidence in Uniswap’s future trajectory.