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- Uniswap is one of the top smart contracts considered by Binance whales.
- A recent data by WhaleStats highlights Uniswap (UNI) to become the most traded token among Binance whales, flipping Ethereum.
- The tracker signifies accumulation among the market uncertainty.
Uniswap, one of the most utilized smart contracts among the Binance whales, has recently surpassed ETH to become the most traded token. A recent data by WhaleStats signified that Uniswap has become the most traded asset among Binance whales. It has surpassed Ethereum in terms of trading volume by the 1000 largest BSC addresses on the network.
UNI, the token of Uniswap, is the most widely held token in the top 1000 Ethereum (ETH) wallets, which indicates that most of the large wallets are having a holding at least one UNI token.
Because UNI is the utility token for the Uniswap decentralized exchange, this feature of the asset might have been the reason for its significance among the whale tier addresses. For using the Uniswap exchange, the users need to spend their UNI tokens after purchasing them via Ethereum.
Uniswap is a decentralized protocol that allows the trading of decentralized finance(DeFi) tokens. An Automated Market Maker(AMM) provides liquidity to users through token deposits into smart contracts. Trading tokens on the exchange offers the elimination of risks of centralized exchanges. UNI is its utility and governance token, and the popularity of this token makes it available beyond the DeFi network on investment platforms like Voyager.
WhaleStats is a crypto platform that gathers data on large investors holding cryptocurrencies, and the platform has shared a list of top ten crypto assets purchased by the biggest 1,000 ETH wallets in the last one day. And the list includes ETH, MATIC, and some other crypto assets. The tracker also made public a few tweets regarding buying of tokens made by top whales, which signified towards accumulation despite market uncertainty.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
