Giant Investment Company Withdrew Two Altcoins from Binance, Is It Accumulating?

Investment firm Amber Group has withdrawn two altcoins from Binance, the world's largest cryptocurrency exchange.

Among the altcoins withdrawn by Amber Group were Uniswap (UNI) and Ethereum (ETH).

Is the rise coming?

According to the share of Blockchain analysis platform Lookonchain, Amber Group withdrew 987 thousand 53 Uniswap ($10.6 million) and 2 thousand 638 Ethereum ($9.2 million) from Binance in the first hours of the day.

Founded in Singapore in 2017, Amber Group provides services in the fields of asset management, market making, consultancy, investment and infrastructure. According to the information on its website, the company has achieved a total transaction volume of more than 1 trillion dollars so far with more than 2 thousand corporate customers.

Amber Group's withdrawal of Uniswap and Ethereum from Binance may mean that the company has no plans to sell them. According to CoinGecko data, Uniswap (UNI) price increased by 3% in the last 24 hours.

Trying to break down the same door

Uniswap has had difficulty breaking through the $12 level over the years. At this level, the selling pressure becomes dominant and UNI encounters resistance.

The RSI of Uniswap, which is traded at $11 at the time of writing, is at the level of 58. If the RSI is above 70, it means that there may be a correction in the price of that cryptocurrency, and if it is below 30, it means that the price may rise in the near future.