COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: What You Need to Know About the New Cryptocurrency Regulation and Expert Comments
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Altcoin News > What You Need to Know About the New Cryptocurrency Regulation and Expert Comments
Altcoin News

What You Need to Know About the New Cryptocurrency Regulation and Expert Comments

In Brief

  • Bitcoin price was continuing its negative performance at the time of writing this article, following the recent hack news. The price was at $25,850, and altcoin investors were nervous. Investors on edge know that a possible test of $23,500 could lead to massive losses in altcoins. On the other hand, whales have started buying a […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

Bitcoin price was continuing its negative performance at the time of writing this article, following the recent hack news. The price was at $25,850, and altcoin investors were nervous. Investors on edge know that a possible test of $23,500 could lead to massive losses in altcoins. On the other hand, whales have started buying a popular DeFi altcoin.

The price of Uniswap (UNI) had dropped due to the SEC case surrounding Binance and Coinbase and the recent negative developments. On-chain readings show that a group of strategic whales bought the dip, which usually indicates a price increase. The SEC’s lawsuit against Binance and Coinbase, filed in June 2023, caused a fluctuation in the crypto markets.

However, Uniswap (UNI), one of the leading DEXs, quickly climbed the highest earners list after its daily trading volumes surpassed $800 million. This increase in volume was not necessarily a good signal for the market. It was caused by orders from sellers inflating the volume.

According to on-chain data compiled by Santiment, Uniswap’s user acquisition rate has recently hit its lowest level in two months. As shown below, Uniswap only recorded 185 new addresses on August 21.

Specifically, the date when Uniswap Network Growth last dropped to this level was just a few days before the announcement of the SEC’s lawsuits against Binance and Coinbase. It seems that the decline in UNI Network Growth to its lowest level in 2 months may be associated with the decrease in user acquisition due to the resurgence of CEXs in August. If this trend continues, UNI could continue to decline.

UNI Coin Whales

Despite the headwinds faced by the popular altcoin, a strategic cluster of whales showed resistance. On-chain data suggests that a group of crypto whales holding between 100,000 and 1 million UNI tokens bought the dip between August 13 and August 21. While the price eroded by 25%, the whales increased their holdings by 3.25 million UNI.

At the current price of $4.7, it appears that the whales made a total of $15.5 million in purchases. The fact that whales invested such a large amount during the price drop also shows their confidence in Uniswap’s medium and long-term performance.

If the BTC decline continues, we may see the price drop to $4. On the other hand, market sentiment recovery and whale interest could push the price to the $5.4 resistance level. The medium-term bullish target is around $7.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

LaunchCoin Skyrockets in a Week Surpassing Expectations

Expert Predicts Sui Could Emulate Solana’s Meteoric Rise

MetaMask Stirs Buzz with Possible Altcoin Launch

Pi Coin’s Dramatic Drop Raises Questions About Its Future

Solana Bounces Back: Unveiling Promising Altcoins and Future Prospects

COINTURK NEWS 23 August, 2023 - 12:04 am 23 August, 2023 - 12:04 am
Share This Article
Facebook Twitter
Share
Previous Article Whale Activity in Three Altcoins: Potential Targets for October Gains
Next Article Bitcoin Price Prediction: Analyst Reveals December 2021 Forecast
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

LaunchCoin Skyrockets in a Week Surpassing Expectations
Altcoin News
The Economic Impact of Pivotal Inflation Data and Powell’s Remarks
Economy
Uncover the Intensity of This Week’s Cryptocurrency Market Movements!
Economy
SEC Approval of XRP ETF Sparks Ripple’s Path to Dominance
Ripple (XRP)
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?