A recent report from Lookonchain, a tracking data provider, reveals that a significant investor has been acquiring a substantial amount of Uniswap’s UNI token. This investor, commonly referred to as a “whale,” has been consistently withdrawing UNI tokens from Binance, the world’s largest cryptocurrency exchange, as indicated by insights from the blockchain analysis tool Arkham.
The whale’s recent activity shows a total transfer of 1.7 million UNI tokens, with an approximate value of $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, ranked as the second-largest decentralized exchange globally, primarily operates on the Ethereum network. As of the time of this report, UNI’s price stands at $9.22, representing an impressive 50% increase over the past year.
In a separate development, other significant investors have also been accumulating HYPE, the token associated with layer-1 DEX Hyperliquid. Two notable whales have deposited significant amounts of USDC into the platform, acquiring millions of HYPE tokens in the process.