Uniswap has become the most traded asset among the top 1,000 Binance whales, surpassing Ethereum in trading volume, according to WhaleStats data.
Uniswap also remains one of the 10 most used smart contracts among Binance whales. Additionally, UNI is currently the most widely held token for the top 1000 ETH wallets, meaning that almost every major wallet has at least one Uniswap token.
The high popularity among whale tier addresses is most likely due to the nature of the asset, which is a utility token for decentralized exchange Uniswap. To use the exchange, users need to spend their UNI tokens after purchasing them with Ethereum.
Uniswap was priced around $9.93 at the time of writing, with a 24-hour trading volume of $422,805,279. UNI price has increased by 3.4% in the last 24 hours. While there is a supply of 460 Million UNI coins in circulation, there is a total supply of 1 Billion UNI coins. HitBTC is currently the most active market where UNI is traded.
Whales continue transfers due to market uncertainty
The WhaleStats crypto platform, which collects data on major investors with specific cryptocurrencies, has shared a list of the top 10 cryptos bought by the 1,000 largest ETH whales in the last 24 hours. ETH, MATIC and a few other cryptocurrencies are on this list.
WhaleStats also shared several tweets about token purchases by MATIC, Yearn.Finance, and other crypto-related top whales, suggesting accumulation amid market uncertainty.
During the massive market sell-off, which resulted in an average loss of 13% in the entire cryptocurrency market, a total of $15 billion in different cryptocurrencies was shifted to cryptocurrency exchanges.
According to the information transferred, approximately $ 15 billion of currencies such as Ethereum, Bitcoin and USDT were seen in the exchanges last week. Such a change in behavior is most likely due to Bitcoin's performance, which has drastically dropped over the past week. Alternative cryptocurrencies, especially most of the top 100, are losing value amid the market correction.