Uniswap (UNI) 76% Mega Rally Might Be Over Amid Likely Team Selloff
Uniswap ($UNI) as it continues its impressive rally, but some profit-taking seems to be underway! ๐
๐ Blockchain analytics reveal a Uniswap team wallet sold 90,000 UNI tokens for $1.03M USDC after a 76% increase in UNI's price over the past week.
๐ฐ Before the sell-off, the wallet held 5.44M UNI ($60.8M) but now only has 926K UNI ($10.5M) left.
๐ฏ UNI has seen a remarkable rally since December, aiming for targets like $10 and $11.283, fueled by the upcoming Ethereum Dencun upgrade.
๐ฅ The UNI rally has sparked a DeFi boom, boosting assets like $COMP, $SUSHI, and $AAVE, with significant increases in trading volumes across DeFi protocols.
๐ While the recent UNI sell-off may signal profit-taking, the rally's impact on the broader DeFi space remains strong, with potential for corrections in the near term.
Stay tuned for more updates as the Uniswap saga unfolds! ๐
