#Tech Giants Eye Stablecoins

#BTC #SUl
- Alternative currencies to watch this week: UNI and SUI are looking for double-digit gains as momentum builds.
- Uniswap and Sushi are dominating the momentum
CryptoQuant data, as shown in the chart below, highlights the buying pressure on UNI and SUI. The cumulative volume delta indicator (CVD) for buyers of both altcoins has been positive, rising since early May for UNI and since early June for SUI.

This indicator measures the cumulative difference between buying and selling volumes in the market over a three-month period. When the 90-day CVD indicator is positive and increasing, it indicates the stage of buying dominance of the speculator, while the negative and decreasing value indicates the stage of selling dominance of the speculator.
The weighted funding rate data from Coinglass for both alternative currencies shows that the number of traders betting on a continued decline in the price of UNI and SUI is lower than the number of traders expecting a price increase. Overall, the positive rate ( buyers are pushing sales ) indicates a bullish trend, while the negative rate ( buyers are pushing sales ) indicates a bearish trend.

The UNI and SUI indicators reached 0.0055% and 0.0071% respectively on Tuesday. These positive rates for both altcoins indicate that long-term traders are paying for short-term traders.