Hayes Dives Deep into UNI
Arthur Hayes has made significant investments in Uniswap (UNI) over the past two days, accumulating a total of $2 million worth of tokens. The purchases were made without any apparent catalyst or trigger, with no governance votes, protocol upgrades, or notable market events to explain the sudden interest from the well-known crypto investor.
According to Etherscan, Hayes' wallet has acquired 284,102 UNI tokens since Sunday, with a split of approximately 244,400 UNI on Sunday and 39,700 on Monday. The total value of this investment is just above $2 million, with Etherscan valuing the stake at around $2.06 million.
This latest move from Hayes comes after he expressed his fondness for UNI in a tweet earlier this month, referring to it as his 'favourite type of sushi' and reminiscing about his past profits during the 2020 DeFi boom. When asked about his intentions behind buying more UNI tokens, Hayes stated: 'Time to run it back turbo.'
It is worth noting that Uniswap's price performance has been modest in recent times, trading at around $7.18 on Monday with a market value of approximately $4.47 billion. Despite this, the token has gained 76.8% over the past month and remains 84% below its record high of $44.92 set in May 2021.