Cryptocurrency analytics company Santiment shared a noteworthy assessment of UNI, the native token of the decentralized exchange protocol Uniswap.
According to Santiment, the top 100 wallets have accumulated a total of 12.41 million UNI in the last eight weeks. Historical data reveals a strong correlation between this group of wallets and UNI, which ranks 32nd by market capitalization. The analysis notes that this accumulation constitutes a bullish divergence, and argues that a breakout in UNI could occur if Bitcoin continues its upward movement in the coming weeks.
On the other hand, on-chain data shows that whale activity is accelerating across the market. A large investor bought 9,240.6 ETH by exchanging 323.26 BTC (approximately $31.15 million) on ThorChain. The same whale reportedly sold off a total of 686 BTC ($65.16 million), accumulating 19,631 ETH at an average price of $3,319.
In another noteworthy transaction, a whale with the address “0xE9D” purchased 11,089 AAVE (approximately $1.9 million) from the Kraken exchange after about a month. It was noted that this wallet currently holds 355,093 AAVE, with a total asset value of $59.15 million, while the whale also has debts of around $30 million.
*This is not investment advice.
