Since the start of the year, some altcoins have posted strong performances, such as UNI, the token of the DeFi platform Uniswap.

Its TVL also hit a yearly record in September, at over $4B, as did DEX volumes, which peaked at $93.6B. These strong fundamentals were accompanied by a sharp price rally, with gains of up to +370% from the June low.

That said, UNI is currently going through a distribution phase, driven by rising inflows to exchanges. On Binance, UNI inflows reached their highest levels of the year with the Z-score exceeded 4 several times in late September, with daily inflows above $40M.

Inflows remain fairly active, although momentum seems to be fading. If this downtrend in inflows continues, UNI could find a bottom and bring an end to the distribution that began at its latest peak of $10.9, from which it has retraced by more than 30%.

Written by Darkfost