Price Analysis

Blackrock’s Holdings Eclipse Grayscale, Uniswap Price Rally Expected

BlackRock's increased cryptocurrency holdings, now surpassing Grayscale, have fueled optimism for the Uniswap price potential surge, signaling bullish market trends.
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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.

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.

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

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.

How much are Grayscale's cryptocurrency holdings worth?

Grayscale holds approximately $21.99 billion in cryptocurrency assets.

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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