Binance's Uniswap (UNI) Holdings Exceed 71 Million Amid 72% Price Pump, Raising Potential Selling Pressure
Binance's UNI reserves have reached 71,584,353 tokens, the highest level since at least June 25, following a 72% rally in UNI's price. On-chain data shows significant UNI inflows to Binance in September, including a spike of about 4.11 million UNI. While growing exchange reserves don't always indicate immediate sales, assets deposited on liquid centralized exchanges are typically easier to trade. This increase in available supply could introduce additional selling pressure, especially as UNI, after surging from around $5.00 in late August to briefly touch $10.90, is currently trading at approximately $8.90 after being rejected from that local high. The nearest significant support is between $8.50 and $8.70.
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