Analysis: UNI CEX inflows hit a yearly high, with price retracing over 30% from its peak under whale distribution pressure.

BlockBeats news, October 17 - Crypto analyst Darkfost stated that Uniswap (UNI) has recently faced sustained selling pressure, with exchange inflows rising to a yearly high. Since the June low, UNI had surged approximately 370%; in September, Uniswap's total value locked (TVL) broke through $4 billion, hitting a new yearly high, and decentralized exchange trading volume also peaked at $93.6 billion.

However, strengthening fundamentals did not prevent the recent price pullback. Data shows that in late September, UNI inflows to Binance repeatedly reached yearly highs. Inflows remain active currently, but growth momentum appears to be weakening.

Darkfost noted that if UNI inflows to exchanges continue to decline, the token may gradually form a bottom and alleviate the selling pressure that has built up since the recent high of $10.9. UNI has currently retraced over 30% from that high.