UNI has rebounded from its June lows to around $6.27. In addition to the price breaking through several months of downward trend lines, large-scale purchases on the chain and the increase in Uniswap protocol fees have also drawn increased market attention, making the range of $7 to $7.5 a key focus for observation in the next phase.
Whales bought in around $5.76
On-chain data shows that a large wallet has purchased approximately 294,680 UNI tokens in total, worth about $1.7 million, with an average purchase price of around $5.76 per token. Calculated at the current price, this position is currently in a profit-making state.
This range is also close to the price band where UNI re-established itself after this round of rebound. The market will continue to observe whether relevant wallets will further increase their holdings, as well as whether tokens will continue to flow out of centralized exchanges, in order to determine whether such buying trends are sustainable.
Robinhood Chain contributes about 66% of the costs.
In addition to the price rebound, the protocol revenue generated by the multi-chain expansion of Uniswap has also become a focal point for the market. Data shows that Uniswap is currently deployed on 47 chains, among which Robinhood Chain contributes about 66% of the protocol fees.
Protocol fees are usually directly related to transaction activity and liquidity. If the trading volume and liquidity on Robinhood Chain continue to be maintained, the multi-chain expansion of Uniswap will have more direct data support, which will also increase market attention to its fundamentals.
$7 to $7.5 constitutes a resistance zone.
From the current trend, UNI has rebounded from its low of around $2.8 in June and has once again reached the range of $5 to $5.5. With the breakdown of the downward trend line, the market is now turning its attention to the resistance zone between $7 and $7.5.
If the price continues to hold above the previous breakout area, the rebound structure is expected to continue; if it falls back below $5.5, the current recovery trend may weaken. At this stage, the range between $5.5 and $5.76 remains an important reference point to observe whether buying interest will continue.
