Blackrock’s Holdings Eclipse Grayscale, Uniswap Price Rally Expected

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Updated
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Blackrock's Holdings Eclipse Grayscale, Uniswap Price Rally Expected

Highlights

  • Blackrock surpasses Grayscale in crypto holdings, becoming Arkham's top ETF-related entity.
  • Uniswap price has surged 8% in the last 24 hours, indicating growing investor interest.
  • The technical indicators for Uniswap price show a bullish signal.

BlackRock has now surpassed Grayscale in total cryptocurrency holdings, marking a significant shift in on-chain assets. This change establishes BlackRock as the preeminent ETF-related institution within the Arkham network. BlackRock’s holdings are valued at approximately $22.14 billion, slightly ahead of Grayscale’s $21.99 billion.

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BlackRock Surpasses Grayscale in Cryptocurrency Assets

Amid Bitcoin’s recent approach to the $60,000 mark, a noticeable surge in its value has boosted optimism in the cryptocurrency market. This upward trend may signal potential rallies for altcoins, particularly those under BlackRock’s influence, such as Uniswap. 

The increasing value of these assets highlights the broadening impact and recovery within the cryptocurrency market, influenced by major institutional players like BlackRock.

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Uniswap Price Surges 8%; More Bullish Ahead?

Over the past 24 hours, Uniswap has witnessed a notable surge. The altcoin has been oscillating between a low of $6.36 and a high of $7.20 within the day. 

This recent upswing in Uniswap’s price comes amid a broader positive shift in the cryptocurrency market, with several other tokens also experiencing gains. At the time of writing, the UNI price is trading at a strong surge of 8%. 

The Uniswap price is currently encountering a critical resistance level at $7. If it breaks this barrier, projections indicate a potential increase to $8. Subsequently, it could climb to $10 in the upcoming bullish trend. If the bullish momentum intensifies further, Uniswap value might soar to $12 in the following growth phase.

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Uniswap’s Open Interest Soars, Signaling Rising Investor Confidence

According to Coinglass data, Uniswap’s trading activity has significantly increased, with the trading volume surging by 182.52% to $424.13 million. Open interest in Uniswap has also risen by 14%, amounting to $89.32 million. This surge in both volume and interest could signal a growing investor confidence or a reaction to recent market developments surrounding Uniswap.

Blackrock's Holdings Eclipse Grayscale, Uniswap Price Rally Expected
Source- Coinglass

The CMF has shown an uptick, currently at 10, which points to buying pressure and suggests that money flows into the asset. The MACD line (blue) has crossed above the signal line (orange), indicating a bullish signal in recent periods. The histogram, primarily in green, suggests increasing bullish momentum.

Blackrock's Holdings Eclipse Grayscale, Uniswap Price Rally Expected
Uniswap Price Chart| Source: TradingView

Conversely, if bearish trends strengthen, the Uniswap price could retreat to a support level of $6.8. A more substantial support level is established at $6.5.

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Frequently Asked Questions (FAQs)

1. What is BlackRock's role in the cryptocurrency market?

BlackRock has overtaken Grayscale in cryptocurrency holdings, making it the leading ETF-related entity with $22.14 billion in assets.

2. How much are Grayscale's cryptocurrency holdings worth?

Grayscale holds approximately $21.99 billion in cryptocurrency assets.

3. What could happen if Uniswap breaks the $7 resistance level?

If Uniswap exceeds $7, it might increase to $8 and potentially reach $10 or $12 if the bullish trend continues.
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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.