A long-term Uniswap holder sent 2.16 million UNI worth $6.61 million to Binance after holding the tokens for about a year.
THE transaction attracted attention because the whale initially withdrew the same position as its value approached $13 million, meaning the latest deposit resulted in an estimated loss of $6.39 million.
Such behavior often reflects the capitulation of the largest holders who no longer expect an immediate recovery. Timing also had increased importance as UNI continued to trade near a major support zone.
The move suggests that at least one major investor accepted losses rather than wait for a stronger rebound.
Foreign exchange flows show new warning signs
Beyond the whale trade, broader foreign exchange activity has also been moving in a bearish direction. UNI Spot net flows turned positive, with around $4.65 million entering trading platforms in the last session.
Positive net flows generally indicate that more tokens have been moving onto exchanges than have been leaving, thereby increasing the amount of supply available for sale.
This development came as UNI was trading around $3.00, adding further pressure to an already fragile market structure. The last few weeks have shown relatively moderate inflow activity compared to the last peak.
If FX balances continue to grow, sellers could retain greater control over short-term price movements.
Can UNI Hold Critical Support at $3?
Uniswap (UNI) continued to trade near the key $3.00 support zone, with the price hovering around $2.99 during the last session at the time of writing.
The chart also shows a major resistance level near $4.00, which has repeatedly rejected previous recovery attempts.
The broader structure remained bearish as UNI continued to form lower highs below resistance.
Technical indicators reinforced this weakness. The DMI showed -DI at 22.90, holding above +DI at 12.01, while the ADX settled at 25.10, indicating that sellers retained control of the dominant trend.
Additionally, the Parabolic SAR remained above the price at 3.542, maintaining a bearish signal on the daily time frame.
If buyers continue to defend $3.00, UNI could attempt another rally. However, a decisive failure would likely expose the asset to greater losses.
UNI traders continue to bet on recovery
Despite increasing exchange supply and bearish technical conditions, Binance’s largest traders maintained a bullish stance.
The data showed that 60.71% of top trader accounts remained long, while only 39.29% remained short.
The resulting Long/Short ratio of 1.55 highlighted the continued confidence of experienced market participants. This positioning created an interesting contrast with the capitulation of the whales and the increase in foreign exchange flows.
Rather than reduce their exposure, many traders appeared willing to maintain bullish bets near support.
Their behavior suggested the expectation of a rebound from current levels. However, sustained buying interest is expected to further absorb the growing currency supply. In the meantime, a bullish conviction alone does not guarantee a trend reversal.
Final Summary
- The capitulation of the whales and increased foreign exchange flows have increased the pressure around UNI’s support.
- Binance traders remained bullish even as bearish signals dominated the chart.
