Arthur Hayes Loads Up on Uniswap Amid Record Highs

Arthur Hayes has accumulated over $2 million worth of Uniswap (UNI) tokens in just two days, according to on-chain data from Bitget. The purchase was made without any apparent market catalyst or governance vote, leaving analysts wondering if Hayes timed the entry well.

The wallet associated with Hayes holds 284,102 UNI tokens, valued at around $2 million, and also carries approximately 8,013 Ethereum (ETH) in its balance sheet. This is not the first time Hayes has invested heavily in Uniswap, as he had previously called it his 'favourite type of sushi' and purchased more tokens after making this statement.

UNI's price has been steadily increasing, gaining 76.8% over the past month, but remains significantly below its record high of $44.92 set in May 2021. The token currently trades at around $7.18, with a market value of approximately $4.47 billion.

It's worth noting that Hayes typically keeps large orders away from open markets and has been known to rebuild positions he had previously exited. Whether this investment will pay off remains to be seen, but for now, it appears to be a significant bet on Uniswap's future growth.