Uniswap large transaction growth
The overall volume of major transactions taking place on the Uniswap (UNI) decentralised exchange platform is increasing significantly. Data from IntoTheBlock (ITB) shows a 599% increase in the number of daily UNI transactions that surpass 100,000.
The new release of the Uniswap Mobile wallet may be assisting in the collection of UNI for custody on the noncustodial wallet, even though the cause of this enormous whale buildup is yet unknown.
According to ITB statistics, the number of whale transactions each day increased from 5 to 16, with an average of 36 transactions per week.
Attractiveness of UNI tokens
Due to its basic utility status, UNI often does not rank as one of the digital currencies that whales like. UNI still has its natural appeal, nevertheless, being the original asset of the biggest DEX in the ecosystem for digital currencies.
Since UNI is still a legacy token and the associated trading platform frequently favours embracing innovation, there is a very good chance that interest in the asset will continue to increase over time.
Due to its generally underperforming price, the UNI price also has the potential to increase over the short to long term. UNI is currently trading at $5.30, 88% less than the $44.97 that it posted as its all-time high (ATH) more than two years ago. The huge potential for expansion means that UNI could continue to observe whale accumulations in the near future.
Enjoying Ethereum sentiment
The Ethereum protocol’s de facto decentralised exchange is called UNI. While Ethereum will continue to reap the rewards of being the first smart contract network, including those associated with high-profile partnerships, Uniswap will continue to reap the rewards of being the first DEX protocol in the market.
