UNI Perpetual Futures Trade at 20% Premium as Traders Expect Uniswap to Gain Market Share
Traders are shifting their focus to Uniswap’s UNI token following a multi-million dollar exploit on Curve Finance. Funding rates for UNI perpetual futures have surged to a 19% annualized rate after the exploit. This indicates that traders expect Uniswap to increase its market share in the aftermath of the CRV exploit. The positive funding rate suggests that long positions are dominating and traders are willing to pay funding to keep their positions open.
Key Points:
– UNI perpetual futures trade at a 20% premium, signaling confidence in Uniswap’s future performance.
– Funding rates for UNI futures have increased to an annualized rate of 19%.
– The exploit on Curve Finance has caused traders to move their positions away from the DEX, but there is no panic in the market.
– The total value locked in Curve Finance has decreased from $3.2 billion to $1.8 billion, while Uniswap’s TVL remains steady at around $3.8 billion.
– Traders are more focused on moving positions away from Curve Finance rather than shorting the token.
This shift in focus towards Uniswap’s UNI token reflects the market’s confidence in its ability to gain more market share after the CRV exploit. Despite the hack on Curve Finance, traders are still maintaining their positions and expect Uniswap to continue its growth trajectory.
By
By
By
By
By