On October 30th, the price of Uniswap fell by 3.99% to $6.73. Previously, it was reported that hackers from Binance sold 7.02 million UNI, worth $39.63 million, which further exacerbated the selling pressure in the entire cryptocurrency market.

On October 30th, Uniswap fell by 3.99% to $6.73, causing UNI to decline by a cumulative 23.48% over the past month.

Lookonchain reports that this Binance attacker sold 7.02 million UNI, cashing in $39.63 million.

The attacker exchanged 7 types of stolen counterfeit coins for 70,480 ETH, worth 158.25 million US dollars.

Standard Chartered Bank's Geoffrey Kendrick believes that despite the selling pressure, decentralized exchanges may still benefit in the long run.

The support level faced by UNI is around $6.25 to $6.50, while $7.00 and $7.50 remain important resistance levels.

According to blockchain analysis platform Lookonchain, the attacker exchanged the stolen UNI for Ethereum at an average price of $5.65 per coin. This sale is part of a larger operation involving 7 different cryptocurrencies, resulting in a total of 70,480 ETH, worth $158.25 million.

UNI has rebounded from its lowest point of $6.27, but is still below its previous trading range. The token has declined by 7.62% in the past 7 days and by 23.48% in the past month, with a daily trading volume of $1.32 billion.

Binance Hacker sells Uniswap tokens worth $39.63 million

This round of selling began on October 29th with unauthorized transfers from a wallet controlled by Binance. On-chain investigators traced millions of UNI tokens flowing from addresses associated with that exchange, which subsequently appeared in transactions where the tokens were exchanged for ETH.

Preliminary investigations show that 3.86 million UNI tokens were sold through 23 transactions, with 3.16 million tokens remaining in the receiving wallets. Subsequent monitoring indicates that the attackers have completed the sale of all 7.02 million UNI tokens.

In the same operation, this hacker also dealt with other cryptocurrencies, including 217.5 million ENA, worth $33.93 million; 7.77 trillion PEPE, worth $31.66 million; and 2.57 million LINK, worth $26.05 million.

AAVE, ONDO, and WLD constitute the remaining portion of the sale, with the attacker collecting the proceeds in ETH. UNI is the largest single sale among these seven assets.

At the time these transactions occurred, Bitcoin and other major cryptocurrencies were in decline.

Standard Chartered believes that Uniswap may benefit.

According to Cointelegraph, Kendrick indicates that traders may be more inclined to use platforms where they have control over their assets, rather than keeping their funds on centralized exchanges.

"I will encourage investors to pay renewed attention to Uniswap," said Kendrick, while maintaining his target price of $100 for UNI by 2030.

As reported by crypto.news in June, Kendrick's initial predictions were based on the expectation that tokenized assets would bring more transaction activity to decentralized finance.

The existing fee mechanism also supports this view. According to the governance changes introduced in December 2025, the protocol began to use a portion of the transaction fees for purchasing UNI and burning tokens.

crypto.news's analysis of the fees for Uniswap in August indicated that the system would withdraw tokens from circulation when the protocol income met certain conditions. The number of tokens destroyed depended on the actual fee income and the settings applicable to each liquidity pool.

UNI Prices remain under pressure

The indicator is 0.39, indicating that buyers had a certain advantage in the day's transactions. However, the reading for Chaikin Money Flow is -0.01, showing that the capital flow is almost balanced, but slightly leaning towards the sellers.

In terms of derivatives, on October 19th, after the launch of the CME futures, this token gained another trading venue. This exchange offers standard and mini UNI futures contracts, allowing traders to participate in the price fluctuations of this token in a regulated manner.

Uniswap Price Analysis: UNI Can it return to $7?

As of press time, UNI is trading at $6.73, with short-term resistance levels around $7.00, followed by $7.50 and $8.00. If it can remain above $7.50, it will help to improve the short-term chart structure after several weeks of decline.

At the same time, crypto analyst Crypto With Gopal identified a potential double-top pattern on a 5-minute chart, with resistance occurring near $6.88 twice.

The analyst set the neckline at $6.73 and regarded $6.55 as a potential downside target in case the pattern fails. On shorter-term charts, the resistance level is between $6.85 and $6.90.

On the daily chart, the range of $6.25 to $6.50 remains the support area in the near term. If this range is lost, there could be a decline to $6.00, and the longer-term 200-day moving average is close to $5.60, which would represent an even lower technical support level.

Disclosure: This article does not constitute investment advice. The content and materials displayed on this page are for educational purposes only.