The crypto market is witnessing significant activity as an unidentified whale continues to accumulate Uniswap (UNI). According to on-chain tracking platform Lookonchain, this major investor has been withdrawing large amounts of UNI from Binance, fueling speculation about a potential price surge. Analysts emphasize that whale movements like these can have a profound impact on market trends.
Whale Continues Buying Uniswap (UNI)
Lookonchain reports that the whale has withdrawn 1.7 million UNI from Binance, valued at approximately $15.54 million. Additionally, the wallet linked to this entity holds $15.8 million in Tether (USDT), indicating that further acquisitions could be on the horizon. Interestingly, this wallet was created just two weeks ago, adding an element of mystery to the situation.
As one of the largest decentralized exchanges (DEXs) on the Ethereum network, Uniswap plays a key role in the DeFi ecosystem. The UNI token serves as its governance asset, allowing holders to participate in protocol decisions. Given the scale of this accumulation, investors are closely monitoring the market for potential price movements.
HYPE Token Attracts Major Investors
UNI isn’t the only token gaining whale interest. HYPE, the native token of Hyperliquid, is also seeing significant accumulation. Lookonchain identified two major whales purchasing large amounts of HYPE. The first whale invested $3 million USDC, acquiring 130,422 HYPE tokens, while the second whale bought 186,964 HYPE tokens for $6.95 million USDC.
Advertisement Banner
Despite being launched just two months ago, HYPE token has quickly gained traction. Currently trading at $23.52, it has surged 5% in the last 24 hours, driven by increasing whale activity. With growing interest in new projects and low-cap tokens, whales seem to be strategically positioning themselves for future gains.
Expect Price Volatility in UNI and HYPE
Large whale movements often lead to short-term price volatility, creating both risks and opportunities for investors. Those keeping an eye on Uniswap (UNI) and HYPE should stay alert for potential market fluctuations.
For the latest updates and expert analysis on the crypto market, stay tuned to The Bit Journal.
- https://twitter.com/Thebitjournal_
- https://www.linkedin.com/company/the-bit-journal/
- https://t.me/thebitjournal
Follow us on Twitter and LinkedIn and join our Telegram channel to get instant updates on breaking news!
The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
