At the beginning of the year, Uniswap (UNI), a decentralized exchange platform realized substantial gains due to bullish momentum. Nevertheless, despite this positive trend, contemporary interest in UNI seems to be diminishing.
Uniswap (UNI) Whale Activity Analysis
Lookonchain recently disclosed that a significant whale deposited 561,782 UNI, estimated to be worth $4.38 million, into Binance. After a protracted accumulation period, the whale sold UNI for the first time in over a year. It is important to note that the whale continues to possess a significant quantity of UNI (2 million), estimated to be worth approximately $15.48 million.
The Santiment data indicates a decrease in the percentage of large addresses that possess UNI, which suggests a broader trend of declining whale interest in the token. UNI price charts exhibited a triple bottom pattern from May 26 to June 17, followed by substantial price declines, indicating a bearish trend.
