Hayes Amasses $2M in Uniswap Amid Token's Record Lows
Arthur Hayes has been buying Uniswap (UNI) tokens in large quantities over the past two days, with his total holdings now exceeding $2 million. According to onchain data, Hayes' wallet purchased approximately 284,102 UNI tokens between Sunday and Monday.
No apparent catalyst or market trigger can be found behind Hayes' purchases, which have been made through a private address that Etherscan labels as 'Arthur Hayes 4'. This is not the first time Hayes has made large trades outside of public markets; he has previously pulled Ethereum and stablecoins from various exchanges.
Hayes' UNI holdings come at a time when the token's price remains significantly below its May 2021 record of $44.92, with Uniswap currently trading near $7.18. The token has gained 76.8% in value over the past month, however, driven largely by the Arbitrum Orbit network.
Other large UNI holders have shown mixed signals, with Nansen-labelled whales increasing their holdings from 3.20 million to 3.46 million on September 2, but also turning net sellers of $130,256 on decentralized exchanges, indicating partial profit-taking.