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With the announcement that the four Ethereum-based liquidity pools on Uniswap will close on November 17, the prices of Ethereum (ETH) and UNI have been discussed. The Uniswap community called to discuss the matter and the meeting took place. During the meeting, no agreement could be reached on issues such as the extension of Uniswap liquid pools or the transition to a new application per pool.
Uniswap manages 4 Ethereum-based liquidity pools. These pools were put into service on September 17th. Due to the pools due to close on November 17, investors are reportedly concerned about the possibility of a drop in the price of UNI and a $ 1.1 billion withdrawal of Ethereum from Uniswap pools with cash withdrawal.
What was discussed during the meeting?
Monet Supply, a member of the Uniswap community, invited the community. Then, about 1 and a half hours of discussion on UNI and Ethereum took place. Community members; He focused on some questions like how Ethereum and Uniswap prices will go, if there will be a pump & dump. During the meeting where the potential liquidity pools were also discussed, no one could give a clear idea of what will happen when the 4 ETH-based pools that exceed $ 2.4 billion are closed.
Also, when there was no answer from Uniswap, the call was terminated. According to Cointelegraph, volatility could increase significantly in the next week as there are no offers from Uniswap.
CoinMarketCap shared an article on Uniswap and Ethereum liquidity. In the article, the liquidity rates of Uniswap and Ethereum were mentioned. Uniswap’s current cash ratio is over $ 3 billion, while its 24-hour volume is $ 213 million.
Some users have shared their concerns on Twitter
Wangarian, a Twitter user, shared several tweets that UNI pools will close on November 17 and expressed his concern as follows:
“UNI agriculture will end on November 17th. Currently, approximately $ 2.3 billion of ETH-based funds are used for UNI agriculture. This means approximately $ 1.1 billion worth of Ethereum will be eliminated from the pools. What do you think the ETH price will be? In my opinion, a certain percentage of ETH will come out of these pools. “
