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Uniswap Whales Bought $75 Million Worth of UNI in Last 2 Weeks; What Does It Signal?

Mon, 07/25/2022 - 12:14
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Gamza Khanzadaev
Uniswap's (UNI) recent successes have not gone unnoticed
Uniswap Whales Bought $75 Million Worth of UNI in Last 2 Weeks; What Does It Signal?
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According to crypto analytics agency Santiment, the largest UNI holders have increased their holdings by more than 10 million UNI in the last 16 days. The talk is about addresses holding between 10,000 and 1 million coins. During this period, the price of the token showed an increase of 25%. At the same time, the lag of the UNI price from its historic maximum value of $45 is 542.11%.

The total combined value of all UNI purchased by these whales is nearly $75 million. For comparison, the circulating supply of the token is 734 million UNI, according to CoinMarketCap. Thus, we can say that the largest whales acquired 1.5% of the total circulating volume of UNI in just the last two weeks.

Whales' motivation on Uniswap (UNI)

It is not hard to understand what motivated the whales to increase their exposure to UNI even more. In addition to the fact that Uniswap has been and continues to be the largest Ethereum-based DEX, trading volumes on the platform are already 50% of the same volumes on one of the three largest centralized exchanges, Coinbase.

At the same time, Uniswap does not stop at cryptocurrency trading and is already taking serious steps in the NFT space. From the purchase of Genie to the current integration of Sudoswap into its platform, Uniswap is preparing to introduce a full-fledged NFT asset trading solution this fall.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.