#uniswap (UNI) has witnessed a dramatic increase in large-holder activity over the past 24 hours, according to on-chain data from IntoTheBlock. Whale transactions for UNI spiked by an extraordinary 1,713%, signaling renewed interest from major investors.
Whale Activity Pushes $UNI to Weekly Transaction Volume High
In a notable development, whale activity propelled Uniswap’s transaction volume to a seven-day high of 58.36 million #UNI —equivalent to approximately $431.07 million. This represents a substantial increase from the prior seven-day low of 3.2 million UNI, underscoring heightened trading activity from large holders.
Such a sharp rise in whale transactions suggests that major players may be positioning themselves ahead of a significant price move, either accumulating or offloading UNI.
Price Reaction: Modest Gains Amid Mixed Volume Trends
Despite the surge in whale activity, Uniswap’s price has only shown modest gains. Over the past week, UNI has climbed 5.26%, with a 0.58% increase in the last 24 hours, currently trading at $7.42. The asset briefly touched $7.47 before experiencing a minor pullback, potentially due to low overall trading volume.
Indeed, while on-chain whale volume surged, total trading volume remains subdued, currently down 8.76% at $245.82 million. This divergence indicates that broader market participation has yet to catch up with the recent whale activity.
Technical Outlook: Indicators Suggest Upside Potential
Technical indicators point to further growth potential for UNI. The Relative Strength Index (RSI) is at 54, indicating that the asset is not yet in overbought territory and may have room to rally.
A key resistance zone lies between $7.62 and $7.65. If UNI can break through this level with accompanying volume, the price could push toward the next target of $8. Market sentiment may strengthen further if retail investors follow the lead of whales.
Ecosystem Advancements: V4 Upgrade Enhances Efficiency
Adding to the bullish case is the recent upgrade to Uniswap V4, which significantly improves gas efficiency for token swaps compared to its predecessor, V3. This makes the protocol more attractive for high-volume trading and supports greater scalability in the ecosystem.
Conclusion
The surge in whale activity around UNI highlights growing anticipation of a potential price movement. While the broader market has yet to react in full, technical indicators and recent protocol improvements provide a favorable backdrop. Continued whale engagement, coupled with a breakout above key resistance levels, could pave the way for a more sustained rally in the near term.
