Uniswap Whale Returns After Three Years Buys $3.97 Million in UNI Tokens

A prominent whale investor, known for their significant influence in the cryptocurrency market, has made a notable return after a three-year absence. This investor, often referred to as the "legendary" Uniswap (UNI) whale, has acquired nearly $4 million worth of UNI tokens. This move has sparked considerable interest and speculation within the crypto community, as the whale's actions are often seen as indicators of broader market trends.

The whale's re-entry into the market after a three-year hiatus is particularly noteworthy. During this period, the cryptocurrency landscape has evolved significantly, with new technologies, regulations, and market dynamics emerging. The whale's decision to invest in UNI tokens at this juncture could be seen as a vote of confidence in the platform's long-term viability and potential for growth. It is also possible that the whale is taking advantage of what they perceive as a favorable entry point, given the current market conditions and the technical indicators that suggest a bullish outlook for UNI.

The whale's investment in UNI tokens is not an isolated event. It comes at a time when the broader cryptocurrency market is experiencing a period of renewed interest and investment. The total crypto market cap excluding Bitcoin has been showing signs of growth, and there is a sense of optimism among investors about the potential for an altcoin season. This is a period when alternative cryptocurrencies, or altcoins, tend to outperform Bitcoin and other major cryptocurrencies, driven by increased investor interest and speculation.

The whale's investment in UNI tokens is also significant in the context of the ongoing debate about the role of whales in the cryptocurrency market. Some analysts argue that whales have a disproportionate influence on market prices and trends, and their actions can have a ripple effect on the broader market. Others, however, point out that whales are simply sophisticated investors who are able to take advantage of market inefficiencies and opportunities that are not available to smaller investors.

This whale, who previously cashed out a cool $21.54 million in profits from two strategically timed waves of UNI trading, has just opened a new $3.97 million position. The whale reportedly acquired 662,606 UNI tokens at an average price of $5.99. This whale’s re-emergence is particularly noteworthy given their past track record. They first bought UNI way back at $3.87 in 2020 and then expertly sold it near the all-time high of $42.88 in 2021, pocketing a massive $17.6 million profit. A second successful trading attempt in the $26–$11 price range later netted them an additional $3.95 million profit.

Coinciding with this whale’s activity, UNI itself is showing fresh strength, already up more than 10% in the past 24 hours to $6.55 at press time. This means the whale’s new address is already sitting on a floating profit of over $370,000—barely a ripple compared to his past spot market haul. On the technical side, Uniswap shows signs of quiet bullish strength with the Accumulation/Distribution indicator curving back upward after weeks of sideways movement, suggesting fresh accumulation–possibly from institutions or informed traders who’ve noticed the whale’s return.

The MACD Indicator shows that the MACD line (blue) is crossing above the signal line (orange), indicating a bullish momentum shift. Although the histogram is still near zero, the crossover suggests further upside potential in the short term. Zooming out, the Fibonacci retracement and extension levels mapped from the swing low at $5.70 to the recent swing high at $8.70 provide critical levels for both bull and bear scenarios. A sustained move above the 0.382 Fib level ($6.84) and 0.5 Fib ($7.28) could open the door to 0.786 level at $8.05, 1.618 Fib extension at $10.55, and long-term targets of $13.54, $16.54, and even $18.39 if full bullish momentum returns like in 2021.