According to tracking data from Lookonchain, a significant investor has recently been observed acquiring a substantial amount of Uniswap’s UNI token. This unidentified investor, commonly known as a “whale,” has been steadily withdrawing UNI tokens from Binance, the world’s largest cryptocurrency exchange, as revealed by insights from the blockchain analysis tool Arkham. The recent activity indicates that the whale has moved a total of 1.7 million UNI tokens, valued at approximately $15.5 million. Furthermore, the same wallet also holds $15.8 million worth of USDT (Tether), and the account itself was created just two weeks ago.
Uniswap, the second-largest decentralized exchange globally, primarily operates on the Ethereum network. At the time of the report, UNI’s price was $9.22, showing an impressive 50% gain over the past year.
In another development, other major investors have also been accumulating HYPE, the token associated with the layer-1 DEX Hyperliquid. Two notable whales have deposited significant amounts of USDC into the platform, purchasing millions of HYPE tokens in the process.