Uniswap Whale Accumulation Increases, UNI Price Surge More Than 100% In Last 2 Months

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Uniswap, the ethereum

The popular DeFi asset is said to be leading because of strong whale accumulation and rising active addresses, according to On-chain data provider ‘Santiment’.

According to santiment

Strong whale accumulation behind the high price rally?

Since May 2022 crash, whalestats

itrust

As per Santiment, 

“Speaking of whales, the number of large transactions (which we deem to be transactions valued at $100k or more) are rising back to May levels as well. We can clearly see the major clump of big whale transactions that began forming one week ago, just prior to the major price rise up to $9.69.”

Interestingly, a pattern has developed among active average trading returns. The 30-day MVRV is currently up to +22.5%, which is well above the ‘Danger Zone’ of +15% or more. 

Nonetheless, with the recent upsurge, Santiment urges new investors to be cautious. 

“Nevertheless, with mid-term trading returns beginning to overflow, the good news is that long-term traders (in the 365-day MVRV) are still well under water. This means that there may be an upcoming downturn in the next one or two weeks for UNI, but its future for the long-term still looks to be undervalued.”

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