Uniswap Price Plunges Below $2.50 Amid Whale Accumulation

Uniswap's (UNI) price has dropped below $2.50 for the first time in five years, marking a significant decline of over 90% from its 2021 all-time high of around $45.

This downturn comes as large investors, known as whales, are accelerating their accumulation of UNI tokens. On-chain data shows that the 10 largest UNI withdrawals from Binance have reached their highest monthly average in five years.

Some daily outflows exceeded 10,000 UNI, indicating a significant increase in whale activity during this price correction. This suggests that large investors are positioning themselves for Uniswap's long-term growth despite the current market conditions.