Uniswap token (UNI), ranked among Whalestats.com’s top 10 ETH wallets by trading volume in the last 24 hours. According to statistics, UNI has now become one of the top ten tokens bought by the top 100 Ethereum whales.
The token has made impressive progress in three different trading categories. Ranked in the top 10 in three different categories, UNI ranked 10th in terms of trade volume with an average transaction volume of $28,363.
The popular cryptocurrency, which ranks 9th among the top 10 tokens purchased with an average purchase of 13,127 dollars, has also ranked 7th among the most used smart contracts with an increase of approximately 50 percent in the last 24 hours.
Will the UNI price make a strong comeback?
Koinfinans.com As we reported, following the downtrend in the market, according to CoinMarketCap UNI price It fell to $3.37 on June 19th. Since then, the token has regained about 61 percent of its value and has been moving within an area around the $5.40 mark. UNI is trading at $5.46 at the time of writing, up 3% in the last 24 hours.
Interestingly, the token was trading at the same level about a month ago. After trading around $5 for most of the month, the UNI price plunged on June 10. During this time it was discovered that Celsius was exposed to Staked Ether (stETH).
Whales see an opportunity at UNI
The latest transaction of ETH whale ‘BlueWhale0079’ put UNI in the top ten among the most purchased tokens. Whale purchased 375,384 UNIs worth approximately $2 million.
Along with UNI, other DeFi tokens have also recently been a hit with whales. AAVE, The Sandbox (SAND) and Looping (LRC) Large accumulations of whales have been observed in tokens such as
Native token of the DeFi protocol of the same name AAVEsaw the accumulation of whales increase its total supply from 42 percent to 47 percent earlier this month. Etherum-based DeFi protocol, which seems poised to recover after sharp losses early in the month, is the second largest protocol by total value locked.
Alleviating fears of a DeFi meltdown may also be increasing whales’ interest in AAVE.
The Sandbox the native token of the metaverse SANDhas seen a steady stream of backlogs after the project announced a remarkable series of collaborations. Sandbox’s exposure to prolific media brands gives the platform’s metaverse considerable staying power compared to its peers, and it’s definitely fueling whale interest.
Ethereum-based protocol loopingwith native token of LRChas seen a 6 percent jump in whale accumulation over the past three months. This improvement came despite a price drop.
Whales gave up on these altcoins
However, not all DeFi tokens have succeeded in attracting whales. Tokens like Cardano, Yearn Finance and Dogecoin have lost interest from huge investors.
Especially Cardano (ADA)has witnessed the largest whale exit, with more than 10 percent of its total assets discharged in the past three months.
After the unexpected exit of its popular developer, Andre Cronje, from the project, YFI Finance also experienced a constant flow of funds. Another initiative in which Cronje played an important role, Phantom has likewise lost value since the developer left.
DOGE it also witnessed waning interest as traders were not impressed by the positive comments from Elon Musk. The rate of development on the token has also dropped drastically this year compared to competitors like Shiba Inu, BabyDoge, giving traders little reason to buy the token.
DOGE, crypto’s first parody cryptocurrency, also suffered heavy losses following a $258 billion lawsuit filed against Elon Musk for being part of a pyramid scheme related to Doge.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.