As soon as old DeFi coins start moving, the market begins to go nostalgic—$UNI this time is a typical example.
The reason it made the leaderboard today isn’t just because it suddenly went crazy. It’s more like the DeFi track has been pulled back into the spotlight again. $UNI spot is already at $4.791. The 24-hour high touched $4.798, and the low was $4.334. This kind of climb that lifts from the floor step by step clearly isn’t something that can be pushed by just one or two small orders.
What’s even more interesting is the trading structure. Spot is only $26.95M, while the perpetuals have already surged to $128.30M—about 4.8 times. The price is up 10.189%, but the funding rate is only around +0.0100%. That suggests there are longs chasing the rally, but it hasn’t gotten hot enough to spiral out of control. It feels more like there were positions in place already, with others then following in.
Open interest is currently 18,545,393 UNI, and I don’t see that kind of outrageous “squeeze/explosion” vibe. If this were purely emotional chaos, the funding rate would have already floated way higher. With this structure, I’m biased bullish. I don’t think it getting on the leaderboard is a coincidence—it looks like DeFi narrative is testing the waters for a rebound, and $UNI is just the first one poking its head up.
I admit, one of the most annoying things about old coins is that they surge and then quickly go dull again—this flaw isn’t absent. But to say this move has absolutely no follow-through? I don’t buy that. If you really think this is just passing capital lighting a fire, with strong spot, funding not getting out of hand, and open interest holding up without dropping—how would you explain it?
$UNI #DeFi #BinanceSquare
I might also be mistaken—judge based on my own assessment.
The reason it made the leaderboard today isn’t just because it suddenly went crazy. It’s more like the DeFi track has been pulled back into the spotlight again. $UNI spot is already at $4.791. The 24-hour high touched $4.798, and the low was $4.334. This kind of climb that lifts from the floor step by step clearly isn’t something that can be pushed by just one or two small orders.
What’s even more interesting is the trading structure. Spot is only $26.95M, while the perpetuals have already surged to $128.30M—about 4.8 times. The price is up 10.189%, but the funding rate is only around +0.0100%. That suggests there are longs chasing the rally, but it hasn’t gotten hot enough to spiral out of control. It feels more like there were positions in place already, with others then following in.
Open interest is currently 18,545,393 UNI, and I don’t see that kind of outrageous “squeeze/explosion” vibe. If this were purely emotional chaos, the funding rate would have already floated way higher. With this structure, I’m biased bullish. I don’t think it getting on the leaderboard is a coincidence—it looks like DeFi narrative is testing the waters for a rebound, and $UNI is just the first one poking its head up.
I admit, one of the most annoying things about old coins is that they surge and then quickly go dull again—this flaw isn’t absent. But to say this move has absolutely no follow-through? I don’t buy that. If you really think this is just passing capital lighting a fire, with strong spot, funding not getting out of hand, and open interest holding up without dropping—how would you explain it?
$UNI #DeFi #BinanceSquare
I might also be mistaken—judge based on my own assessment.