- Whales and Uniswap team wallets are moving millions in UNI, signaling increased market activity and institutional interest.
- UNI breaks out of a descending channel, eyeing a 16.26% rise to $19 after consolidating above key support levels.
- Dormant Uniswap wallets awakening, depositing $221M in UNI, hinting at strong market confidence and potential upside for UNI.
Uniswap has seen market activity recently, driven by institutional deposits and whale movements. According to Spot On Chain, in the past two days, whales have made large transactions, impacting the exchange landscape. One notable transaction involved a whale wallet, “0x59a,” with a portfolio valued at $89.4M. This whale deposited 1.495 million UNI tokens ($24.3M) to Binance, securing an impressive $13.7M profit (+129%) after five months.
Additionally, a wallet linked to the Uniswap team, “0xa37,” transferred 4.99 million UNI tokens ($80.79M) to Coinbase Prime after being dormant for over four years. This move happened 25 hours ago, leaving behind a sizable 4.01 million UNI ($65.7M). Since July 4, three Uniswap-related wallets have awakened, depositing a total of 22.99 million UNI ($221.85M) to Coinbase Prime. These wallets used an average price of $9.648 for their deposits.