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‘Giant Whale’ Accumulating Ethereum DeFi Altcoin, According to Lookonchain

‘Giant Whale’ Accumulating Ethereum DeFi Altcoin, According to Lookonchain

Daily Hodl2025/02/08 16:00
By: by Alex Richardson
UNI-5.05%HYPE-0.14%ETH-0.10%

A large entity is reportedly accumulating Uniswap’s native token UNI , according to blockchain tracking firm Lookonchain.

Citing data from on-chain “de-anonymizer” Arkham, Lookonchain reports that an unknown deep-pocketed investor has begun withdrawing UNI from Binance, the largest crypto exchange in the world.

“A giant whale is accumulating UNI!

This whale has withdrawn a total of 1.7 million UNI ($15.54 million) from Binance in the [past days].”

According to Arkham’s data, the whale also holds $15.8 million in Tether’s USDT in the same wallet which was created only about two weeks ago.

Uniswap is the second-largest decentralized exchange (DEX) in the world, according to CoinGecko, and UNI is its governance token. Uniswap is the top DEX operating on Ethereum ( ETH ).

At time of writing, UNI is trading for $9.22, up over 50% in the past year.

Lookonchain also reported two whales loading up on HYPE , the native token for the layer-1 DEX Hyperliquid.

“Whales are buying HYPE.

0xfD7A…Ea8d deposited 3 million USDC to Hyperliquid and bought 130,422 HYPE ($2.96 million).

0x3369….ADdF deposited 6.95 million USDC to Hyperliquid and bought 186,964 HYPE ($4.24 million).”

At time of writing, HYPE, which only launched just over two months ago, is trading for $23.52, up over 5% on the day.

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Generated Image: Midjourney

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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