UNI Price Sinks 18% While Whales and Exchanges Move Opposite Ways

Whales pulled Uniswap (UNI) tokens off Binance at the fastest pace in five years, a sign of conviction among the token's largest holders.

The price has moved in the opposite direction, with UNI down 18% over the past week. The withdrawals suggest large holders are looking past the slide rather than joining it.

Whales Pull UNI From Binance at Record Pace

Analyst Darkfost tracked the daily outflows generated by the 10 largest transactions on Binance. The monthly average hit 7,300 UNI leaving the exchange each day through those transactions. This marked a five-year high.

"It was notably when UNI's price recently approached $3 that the average outflow from the ten largest daily transactions on Binance hit record highs," the post read.

At the same time, an average of 5,600 UNI still move out daily through the same group of transactions.

"Despite a tough environment for altcoins, some are still drawing attention, particularly those being accumulated most aggressively by whales," the analyst said.

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