Braxton WM Broker Reports on UNI Token Showing Strength in the Wake of Curve Finance Exploit

  • August 3, 2023 11:00 AM
  • Grand News Network

Uniswap’s UNI token exhibits strength in the wake of Curve Finance’s exploit, withpositive funding rates and steady TVL, offering potential opportunities for traders.

Crypto Futures Show Bias for Uniswap’s UNI Token After Curve Finance ExploitIn the wake of a
multi-million dollar exploit of the stablecoin-focused decentralized exchange (DEX) Curve
Finance, traders are shifting their attention to Uniswap’s UNI token. Braxton WM broker, Mia
Meyers says the exploit has caused funding rates in perpetual futures tied to UNI to surge to an
annualized 19%, indicating a growing bias towards the token in the crypto futures market.
According to data tracked by crypto services provider Matrixport, UNI perpetual futures are
trading at a 20% premium as traders expect Uniswap to gain even more market share following
the CRV exploit. The exploit, which saw a significant amount of funds stolen from Curve
Finance, has shaken the confidence of many traders in the DeFi space.
Uniswap, on the other hand, has emerged as a major player in the decentralized finance (DeFi)
ecosystem. Its unique model of liquidity provision and trading has captivated the attention of
traders and investors alike. With its user-friendly interface and wide range of supported tokens,
Uniswap has quickly become one of the go-to platforms for decentralized trading.
The recent exploit suffered by Curve Finance has further fueled the belief that Uniswap will
continue to dominate the DeFi landscape. Traders are betting on Uniswap’s ability to attract
liquidity providers away from Curve Finance, as they seek a more secure and reliable platform.
This shift in sentiment is reflected in the rising funding rates for UNI perpetual futures, as traders
anticipate a surge in demand for the token.

The 19% annualized funding rate suggests that traders have high expectations for the future
performance of UNI. They believe that Uniswap will not only recover from the CRV exploit but
also capitalize on the opportunity to expand its market share. With the exploited funds now in
the hands of the attackers, many traders see Uniswap as a safer alternative for their
It is worth noting that the premium in UNI perpetual futures indicates a strong bullish sentiment
toward the token. Traders are willing to pay a premium to secure their positions in anticipation
of potential future gains. This positive bias for UNI reflects the belief that Uniswap’s unique
offering and its growing popularity among users will translate into increased demand for the

As the DeFi ecosystem continues to evolve and mature, Uniswap seems well-positioned to
benefit from the growing demand for decentralized trading. The recent exploit suffered by Curve
Finance has only solidified its position as a trusted platform within the industry. Traders and
investors are increasingly turning to Uniswap, expecting it to gain even more market share in
the coming months.
In the world of cryptocurrency, a positive funding rate can have significant implications. When a
perpetual contract’s price is trading at a premium to its mark price or the estimated true value of
the contract, it indicates a positive funding rate. This means that long positions or traders
holding leveraged buy positions are dominating the market. These traders are willing to pay
funding to shorts in order to keep their positions open.
Recently, the UNI token had been trading at a nearly 20% premium. Traders have been
expecting Uniswap, a popular decentralized exchange, to gain even more market share
following a CRV exploit. Markus Thielen, the head of research and strategy at Matrixport,
shared this insight in an email.

However, the cryptocurrency market is not without its risks. Late on Sunday, Curve, the third-
largest decentralized exchange (DEX), fell victim to a flash loan exploit. This exploit put
approximately $100 million worth of cryptocurrency at risk. As a result, the native CRV token of
Curve DAO experienced a significant decline of over 15%, dropping to $0.63. This sudden
decline introduced additional risk, potentially endangering borrowed positions worth around $70
million belonging to the Curve founder.
It is important to stay informed about the latest developments in the cryptocurrency market.
Positive funding rates can indicate market dominance by long positions, while exploits and
vulnerabilities can create unforeseen risks. Traders and investors need to be aware of these
dynamics and make informed decisions accordingly.

In the aftermath of the Curve Finance exploit, Uniswap’s UNI token shows strength and
resilience, with perpetual futures trading at a premium and TVL remaining stable. Traders can
take advantage of this positive outlook by carefully assessing market conditions, considering
UNI as a potential investment option, and leveraging its potential for gains. With cautious
research and strategic decision-making, traders can navigate the crypto market confidently and
make the most of the opportunities presented by UNI’s promising performance.

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