UNI just slid 10% in 24 hours, and the move was powered by leveraged longs unwinding — not a broken project. $UNI fell toward $3.52, dropping below every major moving average on the 4-hour chart while RSI slipped under 30. The breakdown accelerated after losing the $3.80 support, where the 200-period SMA had been a key reference. Derivatives data shows over $3.24M in UNI positions liquidated in a day, with almost all of it longs and around 675 traders flushed out. Even a positive OI-weighted funding rate didn't stop the cascade. Uniswap's recent expansion on Robinhood Chain also failed to shield the token from crowded positioning — a reminder that network growth and price action are different things. If open interest keeps falling while UNI stabilizes, excess leverage may be cleared out. #Uniswap #UNI #Crypto #DeFi