Uniswap’s native token, UNI, is trading near $3.02 after losing a short-term support level that held throughout most of April and May. The decline coincides with a sharp uptick in token movement to Binance: the seven-day average netflow for UNI turned positive at +145,829 tokens, a 6,019% deviation above the three-month baseline.
Massive UNI inflow to Binance
Binance saw two consecutive days of large deposits. On May 25, the exchange received a single-day inflow spike of 1.8 million UNI. Two days later, that figure hit 3.1 million UNI. Overall, total inflow volume rose 183% above the three-month average, while the average transaction size per inflow jumped 285%. Those numbers suggest large holders—not retail traders—are moving tokens to the exchange.
Despite the token influx, Binance’s USD-denominated reserve for UNI actually declined 4.95%. That means the exchange holds more UNI tokens but less dollar value, reflecting the token’s falling price and potentially signaling that the deposited coins are being sold or used as collateral.
Price structure under pressure
UNI has been in a bearish structure of lower highs and lower lows since its November peak above $10. The latest rejection came from the $4.00–$4.20 region, pushing the token below its 50-day and 100-day moving averages. Those averages now act as dynamic resistance around $3.30–$3.50. Volume increased during the most recent decline, indicating active selling rather than passive drift.
Critical support at $3.00
The current area around $3.00 represents a key support zone. If it breaks, UNI could enter price discovery toward lower levels, with no clear prior floor beneath. On-chain activity on the Uniswap protocol itself remains intact: active addresses are running 3% above the three-month baseline, suggesting the ecosystem is still being used even as the token price struggles.
The next few trading sessions will test whether the $3.00 support holds. If it doesn’t, UNI may have to find a new bottom without a historical reference point.
