UNI has plunged 8% in two days, the biggest drop among the top 30. Everyone holding it is counting their losses.
Binance daily chart: closed at 6.671 on 11/10 and 6.233 on 11/11, down 6.6% in a single day; today’s intraday low was 6.101, and it’s currently around 6.13. It has already fallen about 19% in seven days, returning to its mid-September low.
If you bought 10,000 U at yesterday’s close, it’s now worth just 9,830 U—a loss of 170 U. Those who bought at the previous day’s close are in even worse shape: 10,000 U is now worth just 9,180 U, a loss of 820 U.
The trigger was the hotter-than-expected U.S. October CPI released on November 11. Across the market, $723 million in positions were liquidated in a single day, 78.9% of them longs. Adding insult to injury, a whale linked to a Uniswap Timelock sold $7.32 million worth of UNI over two days.
Even the leading DEX can’t withstand macro headwinds. Those looking to buy the dip should wait for the aftershocks of the CPI release to pass. $UNI #Uniswap #CPI
Binance daily chart: closed at 6.671 on 11/10 and 6.233 on 11/11, down 6.6% in a single day; today’s intraday low was 6.101, and it’s currently around 6.13. It has already fallen about 19% in seven days, returning to its mid-September low.
If you bought 10,000 U at yesterday’s close, it’s now worth just 9,830 U—a loss of 170 U. Those who bought at the previous day’s close are in even worse shape: 10,000 U is now worth just 9,180 U, a loss of 820 U.
The trigger was the hotter-than-expected U.S. October CPI released on November 11. Across the market, $723 million in positions were liquidated in a single day, 78.9% of them longs. Adding insult to injury, a whale linked to a Uniswap Timelock sold $7.32 million worth of UNI over two days.
Even the leading DEX can’t withstand macro headwinds. Those looking to buy the dip should wait for the aftershocks of the CPI release to pass. $UNI #Uniswap #CPI
