UNI Exchange Reserves Soar to Record High Amid Surging Price

Uniswap's governance token UNI reached a record high in exchange reserves on centralized platforms, totaling 113.9 million tokens as of this week.

This is according to data tracked by CryptoQuant since late 2020, and the build-up on exchanges has raised concerns about potential selling pressure.

However, new wallets have been buying aggressively even as reserves swell, with three fresh addresses gathering a combined 782,130 UNI worth roughly $6.97 million earlier this week.