UNI Whales Keep Buying Despite Price Correction

A large Uniswap holder accumulated $2.35 million worth of UNI tokens over five consecutive days, despite the token's price correction from its recent peak of $7.48 to around $6.02.

This whale accumulation activity continued throughout the market downtrend and showed that demand for UNI remained active, even as sellers countered it with selling pressure.

The exchange reserves of UNI also dropped by 11.88% in 24 hours, reducing the value of tokens held across tracked exchanges to around $650 million.

This reduction in exchange reserves suggests that the underlying demand for UNI is strong and may lead to a subsequent recovery attempt, potentially strengthening any potential price rebound towards $7.48.