UNI Token Surges 6% Amid Volatility as Whale Activity Drops and U.S. Legislation Looms

Uniswap (UNIUSDT) experienced notable volatility in the past 24 hours, with the price rising 6.04% from a 24h open of 6.899 to 7.316 (according to Binance data). This price movement follows a period of significant market pressure, including a broader altcoin sell-off, increased UNI supply on exchanges, and a decrease in whale holdings, all contributing to recent declines. However, the latest rebound appears linked to technical recovery after the sharp drop below $7.00, as well as anticipation around upcoming crypto-related legislative discussions in the U.S. Short positions and open interest have increased, reflecting ongoing bearish sentiment, while net outflows of 1.69 million UNI in the past three days suggest continued investor repositioning.

Currently, UNIUSDT trades around $7.32 with a market capitalization estimated between $4.18 billion and $4.59 billion, and 24-hour trading volumes ranging from $1.15 million to over $520 million, indicating sustained high activity and market attention.