"Whale Accumulates $15M in UNI as Uniswap's Token Surges 50% in a Year"

A significant entity, dubbed a "giant whale," has been actively accumulating Uniswap's native token, UNI, according to blockchain tracking firm Lookonchain. The entity has reportedly withdrawn a substantial amount of UNI from Binance, the world's largest cryptocurrency exchange, over the past few days. This accumulation is estimated to total around 1.7 million UNI, valued at approximately $15.54 million.

The same wallet associated with this whale also holds around $15.8 million in Tether's USDT, which was created only about two weeks ago. Uniswap, the second-largest decentralized exchange (DEX) globally, is the top DEX operating on Ethereum (ETH), and UNI serves as its governance token. At the time of writing, UNI is trading at $9.22, marking an over 50% increase in value over the past year.

In addition to UNI, Lookonchain also reported two whales loading up on HYPE, the native token for the layer-1 DEX Hyperliquid. One whale deposited 3 million USDC to Hyperliquid and bought 130,422 HYPE, valued at $2.96 million. Another whale deposited 6.95 million USDC and bought 186,964 HYPE, valued at $4.24 million. At the time of writing, HYPE, which launched just over two months ago, is trading at $23.52, up over 5% on the day.