🔻 Doubling in a month, giving back 18% in four days: was this good hand of $UNI played to ruin?
First, the data 📊:
Current price $8.92 (-7.7%)
Down 18% from the 9/23 high of $10.94
24h volume $110M
It was only $4.27 a month ago, then ran to $10.94 (+112%)
Now it has given back almost one-fifth of it all
Why did it drop?
① The good news is already out: CME futures announced on 9/22 (listing on 10/19), SEC buyback FAQ, fee switch fully on
② Too crowded on the long side: before the announcement, perpetual open interest was $1.83B, with longs across 87 markets
③ Historical curse: ADA and LINK each fell 35-38% between the CME announcement and listing
My take:
🟢 The fundamentals really aren’t bad — 140M transactions processed in August (more than both Cboe BZX and NYSE American), v4 already has 500+ custom hooks, and the fee switch means real buybacks with real cash
🔴 But $9.04 has already broken; the next support is $8.68 (the low on the day CME was announced)
Trade discipline:
Trying to catch the rebound → wait until $8.68 holds
If $8.68 breaks → don’t try to catch a falling knife, next look at the round-number support at $8 🕯️
Not financial advice, manage your own position 💎🙌
Were you chasing above $10, or did you load up at $4? Drop your cost basis in the comments 👀
$UNI #Uniswap #DeFi
First, the data 📊:
Current price $8.92 (-7.7%)
Down 18% from the 9/23 high of $10.94
24h volume $110M
It was only $4.27 a month ago, then ran to $10.94 (+112%)
Now it has given back almost one-fifth of it all
Why did it drop?
① The good news is already out: CME futures announced on 9/22 (listing on 10/19), SEC buyback FAQ, fee switch fully on
② Too crowded on the long side: before the announcement, perpetual open interest was $1.83B, with longs across 87 markets
③ Historical curse: ADA and LINK each fell 35-38% between the CME announcement and listing
My take:
🟢 The fundamentals really aren’t bad — 140M transactions processed in August (more than both Cboe BZX and NYSE American), v4 already has 500+ custom hooks, and the fee switch means real buybacks with real cash
🔴 But $9.04 has already broken; the next support is $8.68 (the low on the day CME was announced)
Trade discipline:
Trying to catch the rebound → wait until $8.68 holds
If $8.68 breaks → don’t try to catch a falling knife, next look at the round-number support at $8 🕯️
Not financial advice, manage your own position 💎🙌
Were you chasing above $10, or did you load up at $4? Drop your cost basis in the comments 👀
$UNI #Uniswap #DeFi
