隨著市場份額的下降和交換外流的增長，Uniswap（UNI）面臨艱苦的戰鬥

一個新創建的鯨魚錢包在兩天內撤回了461,874個UNISWAP [UNI]（456萬美元）和1580萬美元，從而引發了人們對可能的市場轉變的猜測。

A whale wallet made two large withdrawals from Binance within two days, removing 461,874 Uniswap [UNI] ($4.56M) and 15.8M USDT.

一條鯨魚錢包在兩天內從二元中進行了兩次大型撤離，刪除了461,874個uniswap [uni]（456萬美元）和1580萬美元。

This activity sparked speculation among investors about an impending market shift, with large withdrawals often indicating upcoming price movements.

這項活動引發了投資者對即將發生的市場轉變的猜測，大量提款通常表明即將發生的價格變動。

The withdrawal could signal confidence in Uniswap’s future or a change in liquidity strategies.

撤回可能表明對Unistwap的未來或流動性策略的變化信心。

However, broader market trends indicate that Uniswap faces challenges that could impact its short-term outlook.

但是，更廣泛的市場趨勢表明，UNISWAP面臨可能影響其短期前景的挑戰。

UNI’s market share slips despite strong volumes

儘管很大，但Uni的市場份額滑倒

At press time, UNI was trading at $9.02, down 2.33% in the last 24 hours. But a bigger concern was its declining decentralized exchange (DEX) market share.

發稿時，Uni的交易價格為9.02美元，在過去24小時內下跌2.33％。但是，更大的擔憂是其分散交易所（DEX）市場份額下降。

Raydium overtook Uniswap in January, capturing 27% of DEX volume, while Uniswap’s share dropped from 34.5% in December to 22%.

Raydium在一月份超過了Uniswap，佔DEX量的27％，而Uniswap的份額從12月的34.5％下降到22％。

This shift was largely driven by Solana’s rising memecoin trading activity, which attracted significant liquidity.

這種轉變在很大程度上是由Solana的Memecoin交易活動不斷增加的，這引起了大量流動性。

Moreover, growing dissatisfaction within the Ethereum community over Uniswap’s direction further pressured its position.

此外，以太坊社區對Unistwap的方向的不滿進一步迫使其立場。

Exchange netflow signals growing uncertainty

交換NetFlow信號越來越不確定性

Uniswap’s exchange netflow showed a decline of 3.22%, indicating that more UNI left exchanges than entered. Typically, large withdrawals signaled that investors were planning to hold for the long term, which could be bullish.

UNISWAP的Exchange Netflow顯示下降了3.22％，表明Uni左交易所的交換比輸入的更多。通常，大型提款表明投資者計劃長期持有，這可能是看好的。

However, sustained outflows also signaled that traders lacked confidence in short-term price appreciation. Additionally, concerns over UNI’s weakening position in the DEX market might have prompted some investors to pull back.

但是，持續的流出也表明，交易者對短期價格欣賞缺乏信心。此外，對Uni在DEX市場中的弱勢地位的擔憂可能促使一些投資者退縮。

High NVT ratio raises concerns about network activity

高NVT比率引起了人們對網絡活動的擔憂

Finally, UNI’s Network Value to Transactions (NVT) Ratio was 199.84, suggesting that the token’s valuation was high relative to its transaction volume. Historically, elevated NVT ratios indicated that a market might be overvalued.

最後，UNI與交易（NVT）比率的網絡價值為199.84，這表明令牌的估值相對於其交易量很高。從歷史上看，NVT升高的比率表明市場可能被高估。

So, despite the recent whale accumulation, on-chain activity did not fully support UNI’s current price. A high NVT ratio often preceded price corrections, as it indicated that an asset was trading at a premium without sufficient transaction demand.

因此，儘管最近積累了鯨魚，但鏈活動並未完全支持Uni當前的價格。高NVT比率通常先於價格更正，因為它表明資產以溢價交易而沒有足夠的交易需求。

Uniswap was priced within a descending wedge at press time, a pattern that usually preceded a breakout. The key resistance levels to watch were $12.71 and $15, while $8.17 remained strong support.

uniswap在發稿時在下降的楔子中定價，這種模式通常是突破性的。要觀看的關鍵阻力水平為$ 12.71和15美元，而8.17美元的支持仍然有很大的支持。

If UNI breached above the wedge, it could signal a bullish reversal. However, failure to hold above support could lead to further downside pressure.

如果Uni在楔形上方違反，則可能表明看漲逆轉。但是，無法保持支持可能會導致進一步的下行壓力。

Therefore, the next few trading sessions were critical in determining Uniswap’s near-term price direction.

因此，接下來的幾個交易會議對於確定Uniswap的近期價格方向至關重要。

Weakening trader confidence

削弱交易者的信心

Open Interest in Uniswap Futures dropped by 8.85%, reaching $235.12M, suggesting that traders were closing positions due to market uncertainty.

UNISWAP期貨的開放興趣下降了8.85％，達到2.3512億美元，這表明由於市場不確定性，交易者正在關閉頭寸。

Moreover, long liquidations ($237K) surpassed short liquidations ($22.7K) by a large margin, indicating that buyers were being liquidated as prices fell.

此外，漫長的清算（23.7萬美元）超過了短暫的清算（$ 22.7k），這表明隨著價格下跌，買家正在清算。

Thisرافیک indicated a bearish market sentiment, with traders reducing leverage and exiting positions. If open interest continued to fall, UNI might struggle to gain momentum.

這表明貿易商降低了槓桿作用和退出職位。如果開放興趣繼續下降，Uni可能會努力獲得動力。