Binance Uniswap Reserves Surge to Record High Amid 72% Price Pump

Uniswap's (UNI) reserves on Binance have surged to a record high of 71,584,353 tokens, representing a 72% price pump.

The rise in inflows is evident in on-chain data, with significant positive UNI inflow sessions observed in September, including a spike of about 4.11 million UNI.

However, growing exchange reserves do not necessarily indicate impending sales by holders, as tokens can be transferred to Binance for various purposes such as market making, collateral, or custody.

The token's technical picture remains bullish, with UNI trading above all significant moving averages and a large upper wick and series of red candles produced by the rejection above $10.