UNI Exchange Reserves Hit Record High Amid Mixed Whale Flows

Uniswap's (UNI) presence on centralized exchanges has reached an all-time high of 113.9 million tokens, according to CryptoQuant data.

The token has been volatile this week, surging 11.9% on Wednesday after plans for CME Group futures were announced, only to fall with the broader market on Thursday.

However, big wallets are pulling UNI off exchanges and adding to their positions.

Binance is responsible for much of the increase, holding over 73 million UNI as of September 23. The exchange took in 2.6 million UNI on September 18 and 1.89 million on September 22, according to analyst CryptoOnchain.

Rising exchange reserves alongside surging active addresses into multi-month price highs create conditions that historically preceded elevated sell-side liquidity and consolidation more often than an immediate supply deficit.