UNI dropped 10.80% in 24 hours, trading at $3.22

UNI fell 10.8% to $3.22 as 3.72M tokens moved to exchanges. Despite buybacks and burns, governance concerns and derivatives pressure limit short-term recovery.

The current price of UNI is $3.22, with a 24-hour decline of 10.80%, and trading volume reaching $223.0M. Recent developments include: 3.72 million UNI tokens being transferred to various exchanges, causing the price to drop by 10%; a buyback worth billions failing to sustain the price floor; Bitwise highlighting the governance pitfalls behind the predicted doubling of UNI’s valuation; and accelerated token destruction on Uniswap potentially leading to an underestimated target price for UNI. The contract holding volume is 277M, the funding rate is 0.0045%, and its rating is C.