Uniswap Whales Accumulate Despite Price Drop

Large Uniswap (UNI) holders are continuing to accumulate UNI despite its recent pullback from a local high of $4.57.

According to CryptoQuant analyst Darkfost, Binance has recorded its highest level of major UNI withdrawals in five years.

The monthly average of the 10 largest UNI withdrawal transactions from Binance has reached its highest level since 2021, surpassing 7,200 UNI on some days.

Darkfost noted that these outflows suggest that UNI accumulation is continuing, particularly among the largest players on Binance. 'These outflows therefore suggest that UNI accumulation is continuing, particularly among the largest players on Binance,' Darkfost wrote.