- Only 52% of MKR holders had a loss, while for UNI this is around 72%.
- Maker and Uniswap are currently below neutral lines on their RSIs.
Uniswap [UNI] and MakerDAO [MKR] have differentiated themselves from other DeFi tokens by having fewer loss holders. At a time when most DeFi tokens and other cryptocurrencies see most of their holders incur losses, this performance sets these tokens apart.
– How much are 1,10,100 MKRs worth today
Fewer Maker and Uniswap holders at a loss
The crypto market went through a prolonged period of decline, which led to a fall in the value of several assets, including DeFi tokens. This downturn has also contributed to a rise in the number of holders who took losses, as reported by In The Block.
However, amidst these circumstances, MakerDAO and Uniswap have emerged as standout performers among the DeFi tokens.
While many altcoins are experiencing unprecedented losses, with over 90% of holders experiencing losses, the major DeFi tokens are showing some resilience.
An examination of holders’ profit and loss profiles over the past year shows that most are in a similar position… pic.twitter.com/miXAX5YdLX
— IntoTheBlock (@intotheblock) August 24, 2023
According to Into The Block’s report, MakerDAO [MKR] showed a figure of about 52.3% of holders in a losing position. So is Uniswap [UNI] secured the second position, with about 72% of holders experiencing losses.
To provide context, Compound [COMP] and Ox showed higher numbers, with approximately 93% and 86% of their respective holders experiencing losses. On the other hand, Aave recorded that 76.3% of its holders experienced losses.
MKR and UNI flash bearish signal
Research by MakerDAO on a daily time frame revealed that it was not exempt from the downward price movement in the broader market. However, the impact seemed relatively moderate; the chart illustrated a trend with a steady rise instead of a decline.
At the time of writing, there was an exchange of hands between approximately $990 and $1,000. Nevertheless, the trend showed a clear bearish character, as evidenced by the Relative Strength Index (RSI).
Source: TradingView
Uniswap, on the other hand, showed greater price volatility as shown by the daily chart. The trade value at the time of writing hovered around $4.5 and was down more than 1%. The RSI also pointed to a bearish trajectory for Uniswap, with the signal clearer since it dipped below 30.
Source: TradingView
Maker and Uniswap’s TVL refuses
A broader perspective on the Total Value Locked (TVL) for MakerDAO and Uniswap revealed a noticeable drop. At the time of this review, Maker’s TVL hovered around $5 billion, according to data from Defillama. By comparison, just prior to August 12, the TVL passed $5.9 billion. However, a strong decrease became visible, which led to the current TVL level.
– How much are 1,10,100 UNIs worth today?
Similarly, Uniswap experienced a significant drop in its TVL on August 22, causing it to plummet to around $1 billion a year. Defillama. Nevertheless, the TVL has currently recovered and stabilized at about $3.4 billion.