E Point Perfect
Crypto

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


Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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.



Source link

Related posts

Trend Reversal May Be “Imminent”

Dawn Zuniga

Polkadot Now Allows Tether (USDT) to Be Minted on Its Blockchain

Dawn Zuniga

Crypto News Digest by U.Today

Dawn Zuniga

Bitcoin Returns Back Above $21,000 After Falling to $17,000

Dawn Zuniga

Cardano (ADA) Can Now Be Bought Directly with Japanese Yen Due to New Listing

Dawn Zuniga

Marina Abramović Releases The Hero 25FPS NFT on Tezos (XTZ)

Dawn Zuniga