Uniswap whales are taking opposing positions, with one large investor steadily accumulating UNI while another reduces holdings, according to blockchain analytics platform Lookonchain.
Wallet 0xC374 recently purchased another 308,517 UNI worth $2.13 million, bringing its total purchases to 1.32 million UNI valued at approximately $11.05 million over 45 days. The latest transaction occurred about 10 hours before Lookonchain’s update.
Accumulation Meets Selling Pressure
In contrast, another whale sold $7.32 million in UNI over two days after receiving 20.32 million tokens from Uniswap’s Timelock wallet more than a year ago. Despite the sales, the address still holds approximately 19.3 million UNI, leaving room for further distributions that could add selling pressure.
The divergent moves highlight different strategies among large holders: one continues to build exposure, while the other gradually reduces an existing position. The accumulation has drawn bullish interpretations from some market observers. Hupzy described the sustained purchases as a potential supply-lock signal, though continued holding remains essential.
UNI Price and Technical Levels
UNI was trading around $7.03 at the time of reporting, according to CoinGecko data. The token gained 1.42% over 24 hours and 1.19% over seven days, with 24-hour trading volume reaching approximately $303.59 million.
Traders are also watching UNI’s short-term technical structure. Crypto With Gopal identified a potential head-and-shoulders formation on the one-hour chart, highlighting the $6.85–$6.90 zone as neckline support. A breakdown below this range could expose UNI to further declines toward $6.50, with $5.80 cited as a deeper downside scenario rather than a confirmed target.
For now, the $6.85–$6.90 area represents the immediate technical level to watch. Whether UNI holds that support may determine if buyers regain control or sellers extend the decline.
