Analyst: UNI exchange inflows hit a new year-to-date high, price under pressure and entering a distribution phase

PANews October 17 news: Crypto analyst Darkfost posted that the Uniswap token UNI has performed strongly since the beginning of the year, with TVL hitting a new year-to-date high in September (over $4 billion), and DEX trading volume also reaching a peak of $93.6 billion. The price rose as much as 370% from its June low. However, affected by an increase in the number of tokens flowing into exchanges, UNI is currently in a distribution phase. UNI inflows on Binance reached their highest level of the year, with the Z-score exceeding 4 multiple times in late September and single-day inflows exceeding $40 million. Although the inflow momentum appears to have weakened somewhat, overall inflows remain quite active. If inflows continue to decline, UNI may be poised to bottom out and end its over 30% correction from the recent high of $10.9.