UNI Whales Accelerate Accumulation Amid Market Correction

The Uniswap (UNI) token has seen an unprecedented pace of accumulation by its largest holders, also known as whales. According to data from CryptoQuant, these whales have withdrawn a record average of over 7,200 UNI tokens daily from Binance this month, with some days exceeding 10,000 tokens.

This acceleration in withdrawals is the fastest recorded in five years and mirrors the buying patterns executed by large Bitcoin holders during market corrections earlier this month. The current price of UNI is around $3.96, which represents a 91% decline from its all-time high of $44.92 set on May 3, 2021.

The expansion of the token burn mechanism to version 4 (v4) pools and the Robinhood Chain under the UNIfication governance proposal may have contributed to this accumulation trend. As per protocol documentation, this system directs trading fees toward the direct burning of UNI tokens, which could be attracting large investors.