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A large entity is reportedly accumulating Uniswap’s native token UNI, according to blockchain tracking firm Lookonchain.
Citing data from on-chain “de-anonymizer” Arkham, Lookonchain reports that an unknown deep-pocketed investor has begun withdrawing UNI from Binance, the largest crypto exchange in the world.
“A giant whale is accumulating UNI!
This whale has withdrawn a total of 1.7 million UNI ($15.54 million) from Binance in the [past days].”
According to Arkham’s data, the whale also holds $15.8 million in Tether’s USDT in the same wallet which was created only about two weeks ago.
Uniswap is the second-largest decentralized exchange (DEX) in the world, according to CoinGecko, and UNI is its governance token. Uniswap is the top DEX operating on Ethereum (ETH).
At time of writing, UNI is trading for $9.22, up over 50% in the past year.
Lookonchain also reported two whales loading up on HYPE, the native token for the layer-1 DEX Hyperliquid.
“Whales are buying HYPE.
0xfD7A…Ea8d deposited 3 million USDC to Hyperliquid and bought 130,422 HYPE ($2.96 million).
0x3369….ADdF deposited 6.95 million USDC to Hyperliquid and bought 186,964 HYPE ($4.24 million).”
At time of writing, HYPE, which only launched just over two months ago, is trading for $23.52, up over 5% on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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