Conclusion up front: UNI’s open interest barely changed in a day. In the four-hour liquidation totaling $502k?—actually $50.2k—99.3% was from longs, and those chasing longs are the first to get hit.
Current price is $9.02. Binance is up 0.96%, OKX is up 0.80% over the past 24 hours. The session high is 9.37 and the low is 8.57—data on both sides is consistent.
UNI open interest across the entire network is $805 million; over the past 24 hours it increased only 0.27%, so it looks like there’s little change. But exchange performance is clearly split: Binance’s open interest fell 0.96%, OKX fell 5.9%, while Gate actually rose 11.96%. The funds didn’t withdraw together—positions are being moved elsewhere.
The liquidation direction is more direct: over a four-hour period, a total of $50.2k was liquidated, with long positions accounting for $49.8k (99.3%). Binance alone liquidated $26k. Both Binance and OKX fees are around 0.01% per 8 hours, implying an annualized rate close to 11%; longs are still paying to hold their positions.
UNI, this wave isn't that nobody is playing—it’s that the longs were adding positions while getting liquidated. After you hold your positions horizontally, which side do you think will get squeezed first in the next wave?
$UNI $BTC
Check in real time: https://www.coinboss.com/currencies/UNI