- UNI declined by 21.9% over the past month.
- Amidst market volatility, a $7.3 cost basis remains a critical support.
Over the past month, the crypto market has experienced extreme volatility. Amidst these market fluctuations, Uniswap [UNI] has not been spared. The altcoin has seen its price levels fluctuate from a high of $15.2 to $6.4.
With this heightened volatility, the question is how cost-basis distribution has changed over the last week. Glassnode analysts suggest that cost basis distribution has left $7.3 as a critical support level.
Uniswap cost basis distribution shift amidst volatility
According to Glassnode, Uniswap has seen a strong accumulation at the $7.30 price level. This increased accumulation has made this level a perfect candidate for a potential floor in case of a retest.
Source: Glassnode
Equally, the markets have seen a continued engagement from the supply cluster of 14 million Uniswap tokens, with the cost basis at $10.6 since February 2024.
The continued engagement implies that this cohort has remained active throughout the past year with both buying and selling addresses.
Source: Glassnode
However, the largest supply cluster above the spot price is concentrated at the $16.81 level, originating around December 15.
Addresses with this cost basis hold 31.01M $UNI and have continued to hold through recent market volatility.
At this price point, Uniswap holders have chosen not to sell, as doing so would result in over 50% losses. This group holds their assets out of necessity, unwilling to sell at a loss, while waiting for better price levels.
Their holding behavior has helped alleviate some selling pressure on UNI’s price charts.
What it means for UNI
The continued engagement from the supply cluster with a cost basis of $10.6 while a $16.81 cost basis continued to hold, suggests that Uniswap investors are still optimistic.
Source: Coinglass
Analyzing spot netflow reveals that these addresses have been actively purchasing the altcoin. UNI spot netflow has remained negative since February 25, 2025, indicating heightened buyer activity in the market.
A sustained negative spot netflow suggests more outflows from exchanges than inflows, signaling ongoing accumulation by buyers.
Source: TradingView
The positive Chaikin Money Flow (CMF), sustained over the past two weeks, confirms strong buying activity in the market.
A positive CMF indicates that buyers are more active than sellers, suggesting increased demand for the asset. Recent market volatility appears to have created buying opportunities for Uniswap investors, with buyers accumulating at lower prices.
This trend has helped drive UNI prices higher, and if buyers maintain their positions, UNI could reclaim $8.3. However, if UNI fails to hold the $7.3 support level and drops to $7.2, it risks falling further to $6.5.
For a bullish outlook, UNI must sustain the $7.3 support level, where strong buying activity has been observed.
