UNISWAP（UNI）面对急性看跌压力

在过去一周中，Uniswap（UNI）面临急性看跌压力，令牌的价格下降了11％以上。

Uniswap (UNI) has faced sharp bearish pressure over the past week, with the token’s price declining by more than 11%. However, despite this pullback, bullish sentiment within the market remains strong as Uniswap continues to dominate the decentralized exchange (DEX) landscape and shows signs of potential price recovery.

在过去一周中，Uniswap（UNI）面临急性看跌压力，令牌的价格下降了11％以上。然而，尽管有这种回调，但由于Uniswap继续主导了分散的交易所（DEX）景观，因此市场中的看涨情绪仍然强烈，并显示了潜在价格恢复的迹象。

In the last 24 hours alone, UNI’s price has fallen by 7.71%. This extends a multi-day downtrend that has seen the token’s value erode consistently.

仅在过去的24小时内，Uni的价格下跌了7.71％。这扩展了多天的下降趋势，该趋势已经看到令牌的值始终如一地侵蚀。

However, this downturn comes amid an overall healthy performance for the Uniswap protocol, which has seen increasing user activity, liquidity inflow, and positive developments in on-chain metrics.

但是，由于UNISWAP协议的总体健康表现，这种衰退的趋势已经增加，该协议的用户活动增加了，流动性流入和链链指标的积极发展。

Key takeaways:

关键要点：

* UNI price faces pressure with a 7.71% drop in the last 24 hours amid broader cryptocurrency market weakness.

*在更广泛的加密货币市场疲软中，Uni价格在过去24小时内面临7.71％的压力。

* Despite this, traders remain bullish on UNI in the futures market, where long positions outweighed short ones.

*尽管如此，交易者仍然看涨期货市场上的Uni，长期以来的职位胜过短期。

* Uniswap’s Total Value Locked (TVL) increased slightly, while a key competitor, Raydium, experienced a significant drop in TVL.

* UNISWAP的总价值锁定（TVL）略有增加，而关键竞争对手Raydium的TVL大幅下降。

* Liquidity outflows from Uniswap align with a notable drop in trading volume, signaling temporary market fatigue.

*从UNISWAP一致的流动性流出，交易量的下降，信号临时市场疲劳。

* Despite some weakness, there are positive signs for DEXs as they saw a 20% increase in engagement over the past month.

*尽管有些弱点，但DEX的迹象仍然是积极的迹象，因为他们在过去一个月中的参与度增加了20％。

One factor in UNI’s resilience is the continued support from spot traders. While some large holders decided to take profits and exit their positions—dumping nearly one million UNI tokens, valued at around $5.73 million—retail and smaller investors stepped in to buy the dip.

Uni弹性的一个因素是现货交易者的持续支持。虽然一些大型持有人决定拿走利润并退出职位，即近一百万个单位代币（价值约573万美元）的零售店，而较小的投资者介入了购买蘸酱。

In the same 24-hour period, spot buyers accumulated 2.1 million UNI, which is roughly equivalent to $12.28 million, cushioning the token from a more severe decline.

在相同的24小时时期，现场买家累积了210万个大学，大约相当于1,228万美元，使该令牌避免下降更严重。

Uniswap Gains Ground Among DEXs Amid Price Setback

在价格挫折的DEX中，UNISWAP获得了地面

Even amid a short-term price decline, Uniswap has managed to advance in its role as the leading decentralized exchange. According to DeFiLlama, Uniswap’s Total Value Locked (TVL) saw a slight increase, rising from $4.924 billion to $4.959 billion, adding $35 million in value.

即使在短期价格下降的情况下，Uniswap也设法晋升为领先的分散交易所。根据Defillama的说法，Uniswap的总价值锁定（TVL）略有增加，从49.24亿美元增加到49.59亿美元，增加了3500万美元的价值。

In contrast, a key competitor, Raydium, experienced a substantial setback with a $52 million drop in TVL over the same period.

相比之下，关键竞争对手雷迪姆（Raydium）在同一时期经历了巨大的挫折，TVL下降了5200万美元。

TVL is a crucial metric used to assess the value of assets locked within a protocol, and it often reflects investor trust and user engagement. The rise in TVL suggests that more capital is being deployed into Uniswap, an indicator of long-term confidence in the platform’s utility and growth prospects.

TVL是用于评估协议中锁定资产的价值的关键指标，它通常反映了投资者的信任和用户参与度。 TVL的上升表明，将更多的资本部署到Uniswap中，这表明对平台的公用事业和增长前景的长期信心。

Liquidity Outflows and Volume Decline Reflect Market Uncertainty

流动性流出和数量下降反映了市场不确定性

Despite gains in TVL, the broader picture has not been entirely favorable. Over the past few days, Uniswap has seen approximately $219 million in liquidity outflows.

尽管有TVL的收益，但更广泛的画面并不是完全有利的。在过去的几天中，Uniswap的流动性流出约为2.19亿美元。

This aligns with a notable drop in trading volume, which fell by more than $600 million since May 15—declining from $3.5 billion to just under $2.9 billion—according to IntoTheBlock.

这与著名的交易量下降相符，自5月15日以来，这笔交易量超过了6亿美元，从35亿美元到不到29亿美元，到了intotheblock。

This decrease in volume signals a temporary pause in trader engagement, likely triggered by overall market sentiment and macroeconomic uncertainties.

体积的减少标志着交易者参与的暂时停顿，这可能是由整体市场情绪和宏观经济不确定性引起的。

Yet, even amid this pullback, the fact that Uniswap has managed to grow its TVL and maintain trader interest reflects a deeper layer of resilience within the protocol.

然而，即使在此回调中，uniswap设法增长了其TVL并保持交易者的兴趣这一事实反映了协议中更深的弹性层。

Long Traders Remain Committed Despite Incurring Losses

尽管损失损失，但长交易者仍然承诺

While the market environment has remained bearish, futures traders are still betting on a potential rebound. Long positions continue to dominate short ones, evidenced by the Open Interest Weighted Funding Rate, which remains in positive territory at 0.0054%.

尽管市场环境仍然看跌，但期货交易者仍在押注潜在的反弹。长位置继续占据短职位，这是由开放利息加权筹资率证明的，该筹资率保持在正区域为0.0054％。

Though trending slightly downward, this indicator still reflects a market skewed toward bullish expectations.

尽管趋势略有下降，但该指标仍然反映出市场倾向于看涨的期望。

Interestingly, long traders incurred significant losses in the past day—approximately $1.05 million—compared to just $25,600 lost by short traders.

有趣的是，在过去的一天中，长期交易者造成了巨大的损失（大约105万美元），而短交易者损失了25,600美元。

This willingness to risk capital signals confidence among a segment of investors that UNI may soon stage a recovery.

这种冒险资本风险的意愿表明，Uni可能很快恢复的一部分投资者之间的信心。

Can Uniswap fuel a Rally from Here?

UNISWAP可以从这里加油吗？

The answer may lie in broader ecosystem trends. Over the past month, decentralized exchanges have seen a 20% uptick in engagement, showing renewed investor interest in DEX platforms.

答案可能在于更广泛的生态系统趋势。在过去的一个月中，分散的交易所的参与度增长了20％，显示了投资者在DEX平台上的新兴趣。

While activity slowed slightly over the last day, the larger trend remains positive.

虽然在最后一天的活动略有减慢，但较大的趋势仍然是积极的。

If interest in decentralized finance continues to grow—and if spot buyers and developers remain active in Uniswap’s ecosystem—there’s potential for a short-term bounce and a medium-term rally.

如果对分散融资的兴趣继续增长（如果现货购买者和开发商在Uniswap的生态系统中保持活跃），那么短期反弹和中期集会的潜力。

The protocol’s solid fundamentals, including its innovation pace and market share among DEXs, serve as strong tailwinds.

该协议的坚实基本面，包括其创新的步伐和DEX之间的市场份额，是强烈的逆风。