Since early June, two tokens, Uniswap (UNI) and SUI, have shown sharp declines in prices amid negative market news. For UNI, this decrease amounted to over 6%, while SUI fell by more than 10%.
UNI Feels the Pressure After Global News
Uniswap’s UNI token fell by 6.36%, closing at $7.3864. This decline is linked to market reactions to political news triggered by former U.S. President Donald Trump's recent remarks about Iran. The result was a widespread sell-off of risk assets, including cryptocurrencies.
Technical indicators show weakness, with $7.50 acting as resistance and $7.26 under pressure. Major holders are remaining cautious, and most trading activity is conducted by short-term traders.
SUI Drops Sharply: Over $13 Million Lost in a Day
SUI faced a steep drop, falling by 10.8% in just one day, trading around $2.97 after sinking from $3.37. The day saw over $13 million in liquidations, with trading volume jumping 73% to $1.61 billion.
Charts show strong downward signs, including a 25.95 RSI and a BBP reading of -0.4684. Some analysts suggest that a minor recovery near $3.07 is possible, but overall market pressure remains high.
Unstaked Ready to Transform Web3
Amid the challenges faced by UNI and SUI, Unstaked is moving forward with significant tools for Web3. The platform focuses on developing AI agents that will handle support and user interactions across platforms like X, Telegram, and Discord. The idea is to provide powerful tools to manage tasks that typically require full teams.
Currently in presale, Unstaked has raised over $10.5 million, indicating strong interest. The launch of AI agents is planned to occur shortly after the token generation event.
In light of the sharp declines in prices for UNI and SUI, attention is drawn to the Unstaked platform, which is working on creating useful tools for Web3. Despite the current market challenges, such initiatives may represent an important step forward in the crypto space.
