Uniswap: Why Whale Accumulation May Be the Catalyst UNI Needs

Published 13/03/2024, 11:11
Uniswap: Why Whale Accumulation May Be the Catalyst UNI Needs
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Coin Edition -

  • Two whales have accumulated a total of 348,551 UNI tokens since March 1.
  • The AO on the UNI/USD daily chart indicated a downward momentum, suggesting a price decline.
  • Buying pressure and a potential altcoin season could send UNI’s price to $20.

Whales are scooping a large amount of Uniswap (UNI) token, according to a post seen by Coin Edition. On March 13, smart money tracking handle on X ‘Lookonchain,’ mentioned that a whale withdrew 86,467 UNI tokens from Binance.

Large Purchases Come In

The post also mentioned that the whale has withdrawn a total of 1.09 million UNI, valued at $15.45 million since March 1. However, it was not just one whale involved in the accumulation and exchange withdrawals.

According to Lookonchain, another market participant with the wallet tag “whitzardflow.eth,” borrowed 200,000 USDT from Aave to buy UNI. In total, the second whale holds 262,044 UNI since March 1.

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