UNIUSD Whale Accumulation Surges Past $86 Million
Recent data reveals that whales have accumulated significant amounts of UNIUSD over the past month. According to TradingView, these large investors net bought $86.9 million worth of UNIUSD in 30 days, with a total accumulation of $126.1 million and distribution of $39.3 million.
The price of UNI has also seen an increase, rising by 8.1% over the past week to around $9.73. Analysts point out that resistance levels are currently at $10.00-$10.90, while support is found between $9.00 and $8.45.
Hayden, a notable figure in the crypto space, weighed in on the situation, citing recent SEC FAQ clarifications. He stated that token buybacks do not turn commodity tokens into securities, and liquidity staking tokens tied to commodity tokens aren’t considered securities either.