A major crypto whale has accumulated $16 million in UNI tokens following a significant price downturn, coinciding with Uniswap’s v4 launch that promises improved efficiency and cost savings.
By Parth Dubey
Edited by Marco T. Lanz
Updated
3 mins read
UNI, the native token of the decentralized crypto trading platform Uniswap, has been following a downtrend alongside the broader digital asset space. The altcoin has already crashed more than 23% in the past week. This price dip seems to have attracted whales, who recently added a whopping $16 million in UNI $5.36 24h volatility: 0.9% Market cap: $3.22 B Vol. 24h: $131.33 M tokens.
According to a post on social media platform X (formerly Twitter) by Lookonchain, a blockchain analysis platform, a whale has withdrawn a substantial $15.54 million in UNI tokens from leading crypto trading platform Binance in the past 4 days. As per the wallet data provided by Arkham Intelligence, the wallet holds a massive $16 million in UNI tokens along with $695.64 in ETH $1 619 24h volatility: 1.8% Market cap: $195.32 B Vol. 24h: $14.76 B and $15 million in USDT $1.00 24h volatility: 0.0% Market cap: $144.34 B Vol. 24h: $31.12 B .
A giant whale is accumulating $UNI!
This whale has withdrawn a total of 1.7M $UNI($15.54M) from #Binance in the past 4 days.https://t.co/k2FejJy6eK pic.twitter.com/ujbUwxhpzC
— Lookonchain (@lookonchain) February 7, 2025
The whale activity comes just days after Uniswap announced the next generation of its trading ecosystem, dubbed v4. The new version has introduced new features like customizable trading options and cost-saving activity. It is already available across various blockchain networks, including Ethereum, Polygon, Arbitrum, Base, BNB Chain, Avalanche, and others.
Hayden Adams, the chief executive of Uniswap Labs, took to X to demonstrate how the v4 is more efficient and cost-saving than the v3 version. He created a new Uniswap v3 and v4 pools on the Ethereum mainnet with the old protocol using 5,165,447 gas ($57.42). On the other hand, the new v4 used 431,860 gas ($4.63), significantly lower than its older counterpart.
The UNI daily price chart provided by TradingView below shows that the price action is trading below the 20-day exponential moving average (EMA), which stands at $10.99. At the time of writing, the UNI token trades at a price tag of $9.26, up 1.53% in the past day, confirms CoinMarketCap data. In order to continue the uptrend, the 20-day EMA needs to be captured first.
Source: TradingView
The Relative Strength Index (RSI) reads a value of 34.01, which confirms that the bears are currently in control of the UNI price trajectory. The gradient of the line suggests a gradual rebound after briefly entering the oversold region in the past few days. UNI price action is situated in the lower end of the Bollinger Bands, which also seconds the bearish sentiment indicated by the RSI levels. A breakout below $8.253 could potentially be a threat to the price rally.
Source: TradingView
The MACD indicator remains bearish for the UNI token. The MACD line (blue) remains below the signal line (red). The MACD histogram is also red; however, the intensity of the bars is declining. This suggests that buyers are gradually accumulating more tokens.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
