🔻 Altcoin in focus: $UNI drops the most among the top 100
Uniswap (UNI) fell 9.63% in 24 hours to around $5.99, with a market cap of ~$3.6 billion — the steepest drop in the top 100 today (CoinGecko, 12/11). UNI fell much more sharply than BTC (~$71,650, −3.4%) and the broader market.
Notably, there was no specific bad news about Uniswap. This was a market-wide sell-off following hotter-than-expected October CPI, compounded by data showing that Uniswap’s share of USDC–USDT trading on Ethereum had fallen from 58% to 36% in 5 weeks. UNI long liquidations reached $3.19 million in 24 hours, with 96% of liquidated positions being longs, while open interest fell 4.32% — a sign that bullish positions are closing.
That same day, 33,192 BTC options expire on Deribit at 15:00 Vietnam time, with a max pain price of $76,000. Tonight, U.S. October PPI will be released at 20:30 Vietnam time (forecast: +0.4%) — if it comes in hot again, expectations of a Fed rate hike in December will grow even stronger, adding more pressure on crypto.
Do you think UNI will hold the $6 level or slide further? 👇
#CryptoNews #Uniswap #UNI #Altcoin
⚠️ This is market information, not investment advice.
Uniswap (UNI) fell 9.63% in 24 hours to around $5.99, with a market cap of ~$3.6 billion — the steepest drop in the top 100 today (CoinGecko, 12/11). UNI fell much more sharply than BTC (~$71,650, −3.4%) and the broader market.
Notably, there was no specific bad news about Uniswap. This was a market-wide sell-off following hotter-than-expected October CPI, compounded by data showing that Uniswap’s share of USDC–USDT trading on Ethereum had fallen from 58% to 36% in 5 weeks. UNI long liquidations reached $3.19 million in 24 hours, with 96% of liquidated positions being longs, while open interest fell 4.32% — a sign that bullish positions are closing.
That same day, 33,192 BTC options expire on Deribit at 15:00 Vietnam time, with a max pain price of $76,000. Tonight, U.S. October PPI will be released at 20:30 Vietnam time (forecast: +0.4%) — if it comes in hot again, expectations of a Fed rate hike in December will grow even stronger, adding more pressure on crypto.
Do you think UNI will hold the $6 level or slide further? 👇
#CryptoNews #Uniswap #UNI #Altcoin
⚠️ This is market information, not investment advice.
